A public consultation process has been launched to look at how to conduct financial risk checks for problem gambling and at what level stake limits should be set for people playing online slot games.
The move is the next step of the Government’s
Legislation Day (L-Day), 18 July 2023, was the date when the government published the draft legislation for Finance Bill 2023-24. This Finance Bill will be colloquially referred to as Finance Bill 2024. Alongside the publication of the draft
In most cases, there is no Capital Gains Tax (CGT) to be paid on the transfer of assets to a spouse or civil partner. There is, however, still a disposal that has taken place for CGT purposes, effectively, at no gain or loss on the date of the
HMRC has continued to tackle the UK’s most notorious hotspots for the sale and supply of illicit tobacco as part of its overall remit to tackle tax fraud. This has resulted in the seizure of more than 27 million illicit cigarettes and 7,500kg of
The State Pension forecast provides an estimate of how much State Pension an individual can expect to receive when they reach State Pension age. The estimate is based on the applicant’s National Insurance current and future contribution record.
A
The letters in an employee’s tax code signify their entitlement (or not) to the annual tax free personal allowance. The tax codes are updated annually and help employer’s work out how much tax to deduct from an employee’s pay packet.
The basic
The Construction Industry Scheme (CIS) is a set of special tax and National Insurance rules for those working in the construction industry. Businesses in the construction industry are known as ‘contractors’ and ‘subcontractors’ and should be aware of
HMRC is awarding £5.5 million to voluntary and community organisations to support customers who may need extra help with their tax affairs.
HMRC is inviting eligible organisations to bid for the funding, worth £1.8 million a year from 2024 until
If you have taxable income of less than £17,570 in 2023-24 you will have no tax to pay on interest received. This figure is calculated by adding the £5,000 starting rate limit for savings (where 0% of the interest is taxable) to the current £12,570
It was announced as part of the Spring Budget 2023 measures that the government would establish twelve Investment Zones across the UK, subject to successful proposals. South Yorkshire has now been named as the first of the UK Investment Zones.
These
The check a UK VAT number service is available at: www.gov.uk/check-uk-vat-number.
This service allows users to check:
if a UK VAT registration number is valid; and
the name and address of the business the number is registered to.
The service
Most payments a company makes to its shareholders, in respect of their shares, will be qualifying distributions (usually described as dividends) and may be subject to Income Tax.
If certain conditions are met, the payment can be treated as an exempt
The definition of a connected person for tax purposes can be complex.
A statutory definition of “connected persons” for Capital Gains Tax purposes is set out in Section 286 of the Taxation of Chargeable Gains Act (TCGA) 1992.
The
If you are self-employed as a sole trader or as a partner in a business partnership, then you must keep suitable business records as well as separate personal records of your income.
For tax purposes, the business records must be held for at least
A simple dictionary definition of cost of living would probably say something like:
The level of prices relating to a range of everyday items…
The problem is, the price inflation for food, or fuel for your car, or heating costs will vary. Although
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