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Archive:January 2024

Please find below all the articles from January 2024.

Watch out for data thieves’ latest scam

Scammers are targeting people’s online tax accounts and attempting to steal
sensitive personal data, HMRC officials have warned. It’s been reported by the Institute of Chartered Accountants in England and Wales
(ICAEW) that various accountants’ clients have received emails, which are described by HMRC as “a tactic by scammers to direct people to
a phishing site and steal personal details.”

The emails purport to be from the Government Gateway and contain a confirmation code
to confirm an email address. “If such requests are received, these should be reported to…

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Cause for cheer on company parties

Did you know that your business can benefit from a tax-free allowance
if you host a celebratory event for your employees?

If not, you may have missed out for this year’s Christmas party.
Or if you’re planning a late festive party in January, this may come at just the right time!

It’s not just the yuletide
event that attracts this benefit, however. So, if you’re planning to throw staff a party, you can spend up to £150 each year per
employee and not have to pay tax or national…

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Have you discovered this tax relief?

Are you aware of Business Asset Disposal Relief (BADR)? You may
not have heard of it before, but you probably are familiar with Capital Gains Tax (CGT). BADR is a type of CGT relief.
It becomes relevant if you’re selling all or part of your business.

It used to go by another name – Entrepreneurs’ Relief – before 6 April 2020. If you are a business owner or a sole
trader, it could reduce the tax you have to pay. To qualify for relief, both of the following must…

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New ‘one pension pot for life’ proposal

For those of you who employ staff, you’ll be aware of requirements
surrounding workplace pensions. Changes could be afoot for pensions, with new proposals to give savers a legal right to
require a new employer to pay pension contributions into their existing pension pot. A consultation has been launched by the
Government. If later approved, a new system of ‘one pension pot for life’ would be born.

It would mean individuals can choose their pension provider rather than having one selected by their employer. One of the
aims of…

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