Stamp duty revenue down for HMRC

The Treasury’s take from stamp duty land tax fell by the largest amount since the start of 2008/09, government figures show. In England and Northern Ireland, HMRC collected £11.94 billion in stamp duty receipts on completed property or land purchases in 2018/19 – a 7% decline on the previous tax year. That represents the biggest… Continue reading Stamp duty revenue down for HMRC

Are you saving into your pension plan?

A government-backed pension provider is trialling emotive messages to nudge sole traders to start retirement saving. The messages from NEST aim to persuade the self-employed to sign up for pensions through payment or accountancy platforms or trade and industry bodies. Four messages are being tested to encourage savings behaviour, including ‘could you save £2.50 a… Continue reading Are you saving into your pension plan?

IR35 in the private sector

Key considerations for contractors before April 2020. Large and medium-sized organisations have just six months left to prepare for changes to off-payroll working rules, which are due to extend to the private sector next spring.  From 6 April 2020, firms that engage private-sector contractors will be responsible for deciding if the rules should apply and… Continue reading IR35 in the private sector

The scourge of late payments

Outstanding invoices compromise your business’s cashflow. When you supply goods and services, you expect to be paid, and promptly, but Britain has a deeply embedded culture of late payments. Indeed, for some businesses, delaying payment is an essential part of the business model. Outstanding payments are problematic for various reasons. First, there’s the basic problem… Continue reading The scourge of late payments

CBI: ‘Unsustainable’ business rates system in need of reform

The business rates system has become “uneconomical” and “unsustainable”, and should be reviewed, the Confederation of British Industry (CBI) has said. Business rates are a tax on most properties used for business purposes, and are calculated based on an estimate of the property’s open market rental value. The CBI argues that long gaps between rate… Continue reading CBI: ‘Unsustainable’ business rates system in need of reform