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If you are claiming tax credits make sure that you keep an eye on changes that may affect the amount you receive. Your payments can go up if: your income goes down by more than £2,500 your benefits stop or go down you start getting personal independence payment (PIP), disability living allowance (DLA) or other […]

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As you would expect there are a range of conditions that affect the answer to the question: Who qualifies for the minimum wage? We have reproduced below a summary of the main conditions to be observed. Workers must be at least school leaving age to get the National Minimum Wage. They must be 25 or […]

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From 1 October 2018, HMRC will be gaining access to information from tax havens that will enable it to identify UK citizens with undisclosed offshore assets. By inference, this will also give them access to undisclosed UK income and taxable gains. Why does this matter? It matters because HMRC has introduced new legislation called the […]

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A reminder that making loans to your employees or their relatives can create tax problems for employees and employers. For example, the employer will have an obligation to report a beneficial loan to HMRC and the deemed benefit would be a taxable benefit in kind for the relevant employee. A beneficial loan is one that […]

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From 14 February 2018, tax-free childcare is available to all remaining eligible families: parents whose youngest child is under 12. The new scheme aims to help working parents with the cost of childcare. According to government, it is quick and easy to apply, and parents could save thousands of pounds each year. For every £8 […]

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As you would expect, the Spring Statement delivered by the Chancellor Philip Hammond, to Parliament on 13 March 2018, was peppered with party political jibes no doubt intended to lift the spirits of his own party and dismay the opposition parties. There was very little “promised” in terms of new tax or other strategic items […]

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The Office for Tax Simplification (OTS) has been tasked by the Government to review key aspects of the inheritance tax (IHT) legislation. According to information posted to the government’s website recently, the review would appear to be wide ranging. Issues to be examined include: The process around submitting IHT returns and paying any tax, including […]

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