Month: July 2022

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Low-paid workers in line for cash boost

More than a million of the lowest-paid workers in the UK will receive a financial boost from 2025. New Government legislation just published confirms that around 1.2 million low earners who save for their pension through a Net Pay Arrangement...

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Hospitality workers to benefit from tips regulation change

Hospitality staff will be able to keep their well-deserved tips from grateful customers under new legislation that has been backed by Government. Although customers may leave cash to say thank you to their waiter staff, many employers still keep the...

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Get help to avoid debts spiralling out of control

People who are worried about the impact of rising prices and its effect on household incomes are being urged to seek support. Speaking to a trained and experienced debt adviser about your situation could help you decide what to do...

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Millions of workers to benefit from tax cut

Around 30 million people across the UK will be looking forward to seeing extra cash in their pocket after the biggest personal tax cut in a decade came into force. Some lucky workers will be saving £330 a year, with...

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Amazon faces probe over third-party practices

Online retail giant Amazon is being investigated by the Competitions and Markets Authority (CMA) over concerns its practices could result in a worse deal for customers. It is understood the investigation will be looking at how Amazon’s operations affecting sellers...

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Government reviews personal insolvency framework

Have you ever found yourself in financial distress, struggling to juggle the bills and balance the books? Or perhaps you have supported someone with their debt issues. The Government is looking for input from anyone who has been touched by...

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What does goodwill mean ?

In a business context, goodwill could be defined as the amount that a buyer would be prepared to pay for your business over and above the valuation of the business net assets. Very often, it is the relationships that you...

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Easier access to free TV licenses

Pensioners on low incomes will find it easier and quicker to apply for or renew their free TV licence under reforms laid in Parliament today. The legislative change will ease the administrative burden put on eligible over-75s when applying for...

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Tax Diary July/August 2022

1 July 2022 - Due date for corporation tax due for the year ended 30 September 2021. 6 July 2022 - Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A NICs. 19 July...

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Tax gap running at 5%

HMRC published a report last month that acknowledges it was only able to recover 95% of the taxes assessed for 2020-21. In monetary terms, the tax gap for the 2020-21 tax year is £32 billion. At 5.1%, there has been...

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