Incorporating the Lifetime ISA into your savings strategy. The past few years have seen several innovations in the savings account market. Gone are the days when savers only had cash and stocks and shares ISAs to choose from. Nowadays you can open specialist accounts designed to help you save for your first home and for… Continue reading Lifetime ISA’s
A guide to capital gains tax and the reliefs available for 2017/18. When you buy an item with the intention of selling it for a profit, that transaction is treated as a trade and you should pay income tax on the profit you make on the sale. When you acquire an asset to use or… Continue reading Capital gains tax
The number of employees who think they will work beyond the age of 65 is at a record high, according to research by Canada Life Group. Out of 1,000 workers surveyed, 73% are expecting to work past the age of 65 – up from 67% in 2016. 37% who intend to work beyond 65 said… Continue reading Delayed retirement beyond 65
More than half of businesses are planning to offset rising prices, according to a study by ICAEW. 53% of firms have seen input prices increase over the past year but less than half are willing to absorb the costs. Businesses cited the following reasons for rising prices: rise in raw materials (35%) cost of services… Continue reading Rising costs and offsetting them
Employers are in support of the current employment law rights as negotiations to leave the European Union continue. The CIPD asked 500 employers about the 28 areas of employment law and found the majority thought all areas were necessary. Legislation deemed important included: unfair dismissal laws (93%) the national minimum wage (87%) parental rights at… Continue reading Employment law rights and Brexit
Expenses and benefits not payrolled for the 2016/17 tax year will need to be reported to HMRC by 6 July 2017. Employers can report them by completing specific forms which are available to download on the HMRC website. There are 2 forms to complete – P11D and P11D(b).