With so much going on in the charity sector we have invited an excellent line-up of speakers to provide updates and share their expert opinions on some of the key topical issues: Bribery and corruption Fraud awareness and prevention Security and business continuity Finance matters and more Impact / public benefit reporting Employment law and … Continued
Termination payments under review
A further consultation taking place this summer is into the simplification of the tax and national insurance treatment of termination payments. There is a widespread but mistaken belief amongst employees and employers that the first £30,000 of any pay-off is not subject to income tax and NICs. This often leads to difficulties when employees discover … Continued
Bank and other interest to be paid gross from April 2016
As announced in the spring 2015 Budget, a new personal savings allowance will be introduced from 6 April 2016. This will be £1,000 a year tax free for basic rate taxpayers and £500 a year for higher rate taxpayers, but nil for those with income over £150,000. As a consequence, tax will no longer be … Continued
Tax relief for replacing furniture in let properties
The government announced in the Summer Budget that from April 2016, the current 10% Wear and Tear Allowance for furnished lettings will be replaced with a relief that enables all landlords of residential dwelling houses to deduct the costs they actually incur on replacing furnishings in the property. This will give relief for capital expenditure … Continued
Pension scams put savings at risk
Over-55s are the targets of repeated cold-calling and email scams offering fake pension opportunities. 5 months after the introduction of the new pension freedoms, 40% of Citizens Advice pension staff have come into contact with people affected by pension scams. Around 10% have seen people fall victim to scams. Of those contacted by scammers, 80% … Continued
Consumer ombudsman to change complaints process
Ombudsman Services is launching a new service that will accept all consumer complaints. The newly created consumer ombudsman will be able to receive complaints relating to the conduct of sectors that don’t have a current ombudsman. This includes retail, home maintenance, improvement or installation services, second-hand cars, car repairs and car servicing. The ombudsman is … Continued
Digital account timeline overview
HMRC has revealed how it plans to introduce digital tax accounts over the course of the 2015/16 tax year. First announced in Budget 2015, news that HMRC wants digital accounts to replace traditional annual tax accounts created much debate. Now, further details of what this transitional process will look have been provided by HMRC: July … Continued
Companies House free search services
In line with the government’s commitment to free data, Companies House announced recently that all public digital data held on the UK register of companies is now accessible free of charge, on its new public beta search service. This provides access to over 170 million digital records on companies and directors including financial accounts, company … Continued
Changes to the Financial Services Compensation Scheme (FSCS)
On 3 July 2015, the Prudential Regulation Authority (PRA) announced that from 1 January 2016, the level of FSCS protection for personal and small business depositors will be reduced from £85,000 to £75,000. The Financial Services Compensation Scheme (FSCS) is a scheme provided by the UK Government. It gives a level of cover for your … Continued
Pension Wise – Free government service from your local Citizens Advice Bureau
There is now more freedom when deciding what to do with your pension pot. Pension Wise is a new government service that can help you to go through your options so you can make informed decisions that are right for you and your family. If you are: 50 or over, and have a pension based … Continued