New measures have been introduced for the even-handed treatment of spouses and civil partners who are in the process of separation, divorce or dissolution. The new legislation clarifies Capital Gains Tax (CGT) rules that apply to transfers of assets between … Continue reading
Government increases interest rate on late tax payments
HM Revenue & Customs (HMRC) has increased the interest rate applied to late tax payments following the latest hike in the Bank of England base rate. The late payment interest rate increased to 4.25 per cent from 23 August – … Continue reading
Back to Basics on Business Mileage
Ask anyone who either uses their vehicle for business reasons, or puts fuel in a company car, and you will soon realise business mileage can be a confusing topic. It’s important to know that if you fall into either of … Continue reading
HMRC set to modernise direct debit system for employer PAYE
HM Revenue & Customs (HMRC) has announced plans to offer a recurring direct debit to employers as part of their wider payment modernisation programme. At present, employers can only set up a direct debit to collect a single payment. The … Continue reading
Calls for Government to tackle late payments to small businesses
A new study has revealed the cashflow struggles faced by small businesses across the UK, resulting in calls for Government action. The research, conducted by Xero Small Business Insights and Accenture, discovered that the average UK small business experienced a “cash flow crunch” … Continue reading
