Umar Memon
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Savers continue to be hit by inflation
The rising cost of living remains a problem for savers. The latest measure of inflation by the Consumer Prices Index now stands at 3.7 per cent. Once inflation and tax are taken into account, basic rate taxpayers would need an… Read more Savers continue to be hit by inflation
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Fuel duty will ‘hamper’ smaller firms
Small businesses could find themselves laying off workers and cutting down on investment if fuel duty continues to rise, a leading business group has warned. The Federation of Small Businesses (FSB) has said that a snap poll of 400 small… Read more Fuel duty will ‘hamper’ smaller firms
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2011 PAYE Update – Tax Enquiries
Increasingly, HMRC is issuing formal queries when a few years ago it would simply ring up the employer. In most cases, this is nothing to be worried about. The matter is addressed simply by passing the letter to us for… Read more 2011 PAYE Update – Tax Enquiries
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2011 PAYE Update – Pensions
The previous government announced that it was restricting pension relief to taxpayers that earn more than £150,000 a year. This took 22 pages of tax law and involved complex calculations. The new government has decided to keep the pension restriction… Read more 2011 PAYE Update – Pensions
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2011 PAYE Update
There have been a number of developments during the last year – here is a brief overview of the changes. National insurance The new rates for national insurance have been announced for the tax year starting on 6 April 2011.… Read more 2011 PAYE Update
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The Finance Bill 2011
The coalition government has taken the new and welcome step of publishing draft clauses for next year’s Finance Act. Although details of proposed changes have already been announced, the detailed provisions often show possible problems in implementing them, as we… Read more The Finance Bill 2011
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Pension savers to get more freedom
The 2011 Finance Bill will give pension savers a greater degree of control over how they use their retirement pots. Under the draft laws, the obligation to buy an annuity from an insurance company by the time someone reaches the age… Read more Pension savers to get more freedom
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Bright Days Ahead
We are not too downbeat about this year. n fact, we'd go as far as saying 2011 will be a year of growth. Why the optimism? Well, interest rates remain at an all time low and, increasingly, we are seeing evidence that the banks are starting to lend. We recently helped one of our clients secure a 100% Loan To Value £2m facility. Currently we are helping a company sell its business and it has already achieved the full asking price thanks to the support of the purchaser's bank. Read more Bright Days Ahead
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Retirement age change needs rethink
The government has been urged to clarify its plans for scrapping the default retirement age in order to avoid the risk of extra tribunal claims. The call has come from the CBI. The employers group argued that firms could face greater risks… Read more Retirement age change needs rethink
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New VAT rate could be a long-term measure
The new standard rate of VAT could well become a permanent feature of the business landscape. The rate rose from 17.5 per cent to 20 per cent on 4 January. In a press interview given late last year, the Chancellor, George Osborne suggested… Read more New VAT rate could be a long-term measure