It is that that time of year when Interchange is looking for new project proposal ideas from VCOs and not-for-profit organisations within Greater Merseyside for our University of Liverpool Students for September 2015. Interchange is a registered charity based in the University of Liverpool that connects students in Higher Education with local Voluntary and Community … Continued
Liverpool Landlord Licensing Scheme
From 1 April 2015 all private landlords in the city must apply for a five-year licence for each of their rented properties. The scheme is being introduced in Liverpool under the government’s selective licensing laws and signing up for it is compulsory. What are the benefits of the scheme? The properties must meet fire, electric … Continued
Year-end tax tips
There is only one month remaining of the 2014/15 tax year. Here is a summary of personal tax reliefs and allowances to use before the tax year-end. Income tax The personal allowance is £10,000 for 2014/15 and will rise to £10,600 in 2015/16. Make sure that your spouse or civil partner is taking advantage of … Continued
Businesses lack mental health policies
Three quarters of employers don’t have a workplace mental health policy, research by the Institute of Directors (IoD) and YouGov has found. The survey of 1,150 employees and 586 employers reveals that stress and anxiety affect the productivity of 32% of employees. The research found that: 77% of employers haven’t introduced a mental health policy … Continued
Number of small firms hits record high
There are a record 5.2 million small firms in the UK, according to a government report. The number of small businesses has increased by 760,000 since 2010 and 4.5 million people are now self-employed, an increase of 500,000 from 2010. The report reveals that more than £130 million has been lent through the Start Up … Continued
Compliance costs SMEs
SMEs pay almost £10 billion in tax compliance costs each year, according to research by the Association of Accounting Technicians (AAT). The survey of 500 businesses reveals that the average SME spends £4,376 complying with business taxes each year. Collectively, the SME sector spends £9.9 billion annually on tax compliance. Important findings: SMEs spend up … Continued
Self Assessment Late Payment Charges!
HMRC will shortly start issuing penalty notices to those individuals who did not file their returns on time. A fixed penalty of £100 will be due for all returns which were outstanding at 31 January 2015. HMRC will also start to add £10 daily penalties up to a maximum of 90 days where the return … Continued
Charity audit threshold to double to £1m
Following a consultation period the government has said that it will go ahead with plans to double the audit threshold for most charities from £500,000 to £1m, making up to 4,000 charities exempt from audit requirements. The government said changes will come into effect on 31 March, 2015. In summary the changes will: increase the … Continued
Solicitors Targeted by HMRC Clampdown on Tax
HMRC announced in December that they were launching a campaign targeting solicitors who have not declared all their earnings. The Solicitors’ Tax Campaign (STC) means that both individuals and their firms will be under scrutiny. To take advantage of the lower penalties available under the STC you would need to: Notify the Revenue by 9 … Continued
NSI 65+ Guaranteed Growth Bonds
The 65+ Guaranteed Growth Bonds will now be on sale until 15 May 2015 due to high level of interest and demand. The NSI 65+ Guaranteed Growth Bonds are lump sum investments that earn a fixed rate of interest over a set period of time. The terms on offer are 1-year and 3-year. The Bonds … Continued