A selection of business news and articles to help make your business a success
HMRC has published two new surveys which leading advisory firm BDO are concerned could result in the removal of valuable employment perks, such as salary sacrifice pension schemes and Benefit in Kind arrangements, during the Chancellor’s Autumn Statement. One survey,...
The Government’s new Pension Schemes Bill is expected to make it easier for millions of people to manage their pensions, by improving returns, and combining smaller pension pots to create bigger and better pension funds. The benefits of combining smaller pension pots...
Inheritance tax is one of the most unpopular taxes in the UK, as many people will pay 40% tax for the first time after they have died. The confirmation in the Budget that the IHT threshold of £325,000 will be frozen until 2030, and that any unused pension that is...
Anyone with an incomplete National Insurance record between 2006 and 2016 has until April 5, 2025, to top up their National Insurance (NI) payments to get the maximum state pension. Ordinarily, voluntary NI top-ups can be made for up to six years to complete an NI...
HMRC has had to repay a massive £56.9m in overpaid pension tax between April 1 and June 30 this year, as the problems with the emergency tax rate on flexible pension withdrawals continue to bite. HMRC will put you on an emergency tax rate when you first access your...
The Department for Work and Pensions (DWP) is making slow progress on addressing State Pension errors for around 194,000 parents who are being denied a full State Pension because they have not had the correct information applied to their National Insurance records....
If you are planning to retire overseas, you need to consider what to do with your pension once you leave the UK. There are a few options, including leaving your pension in the same UK pension fund, and just having the income paid to a sterling bank account, and then...
The landslide victory for Labour has promised a variety of changes to the way the country is run, and a wide range of these were revealed in the King’s Speech for the State Opening of Parliament. There were around 35 bills announced in the speech, including a new...
Around 650,000 pensioners are facing the prospect of paying tax on their pensions for the first time from this month. This is thanks to a big boost to the State Pension from April 6, and frozen tax bands that will drag them into the tax net, according to calculations...
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