Recent editions of this newsletter have featured the important changes to personal pensions for those over 55 that take effect from 6 April 2015. From 6 April 2016 the new flat rate State Pension will be introduced, which is expected to be around £150 a week. A person’s actual entitlement will depend on their National … Continued
In last year’s Finance Act it was announced that the VAT rules for dealing with prompt payment (or early settlement) discounts would be changing from 1 April 2015. HMRC have now issued brief 49/2014 setting out guidance for businesses affected by the change, many of whom may need to change their invoicing procedures. From 1 … Continued
Phishing is the fraudulent act of emailing a person in order to obtain their personal/financial information such as passwords and credit card or bank account details. These emails often include a link to a bogus website encouraging you to enter your personal details. There is guidance available that explains how to recognise genuine contact from … Continued
More than half of over-40s don’t know whether they will be eligible for the government’s free pension guidance service, research by Partnership has found. Pension savers will have access to free and impartial guidance on how to benefit from the pension reforms that will be introduced in April 2015. However, Partnership’s survey of more than … Continued
What is happening? From 1 January 2015 the VAT rules for cross-border B2C supplies of ‘digital services’ (i.e. broadcasting, telecoms and e-services) will change. From that date, VAT must be accounted for in the member state where the customer normally lives, rather than where the supplier of the service is established. This means that sellers … Continued
The scope of inheritance tax (IHT) is determined by a person’s “domicile”. For those domiciled within the UK their worldwide assets are potentially liable to IHT and for those domiciled outside the UK the charge is restricted to the value of UK assets. Certain statutory provisions deem people who are domiciled outside the UK to … Continued
The Chancellor has announced a series of safeguards to protect innocent people from having their bank accounts raided by HMRC. We understand that tax inspectors will have to give people face-to-face warnings before raiding their bank accounts after well watered down controversial plans to claw back money owed to the Exchequer. The plans to give … Continued
From April 2015, it appears the over 55s will be able to use their pensions “like bank accounts” and withdraw cash to invest or spend as they wish. What are the changes? From April 2015 the rules will change: If a pension saver dies before 75 (whether or not the pension has been touched) the … Continued
The Chancellor George Osborne delivered his final Autumn Statement of this Parliament amid ongoing economic uncertainty. The key indicators paint an unclear picture. The UK economy is now expected to grow faster in 2014 than any other developed economy including the Eurozone. But the pace of GDP growth slowed between the second and the third … Continued
HMRC’s latest disclosure campaign is aimed at traders who accept payments by debit and credit cards but who haven’t declared all transactions. The Credit Card Sales campaign provides an opportunity for individuals and companies accepting debit and credit cards (but have not reflected all transactions in their tax return) to bring their affairs up to … Continued
🎅🏻BWM Christmas opening hours🎅🏻
🎄The BWM office will be closed over the Christmas period from close of business on Friday 22 December 2023 at 12pm until 9am on Tuesday 2 January 2024. 🎄
The Easter Bunny has come early!🐣Chocolate inspired pay day treat for all our lovely staff 🍫 🐇
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Tempest Suite 5.1, 12 Tithebarn Street,
Liverpool, L2 2DT
Phone: 0151 236 1494
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