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New Worldwide Disclosure Facility launched by HM Revenue & Customs

HM Revenue & Customs (HMRC) has announced the creation of a new Worldwide Disclosure Facility (WDF) that will allow people to ensure their affairs are correct before the Common Reporting Standard (CRS) comes into force on in October 2018.

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More than a third of companies unaware of apprenticeship levy

New research from the British Chambers of Commerce (BCC) has revealed that more than one in three businesses have not heard of the apprenticeship levy.

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News - May 2013

Funding for Lending given new boost

Business leaders have given a cautious welcome to the governments’ plan to extend the Funding for Lending scheme.

The scheme is designed to encourage banks to lend by making cheap loans available, on the condition that they will pass on the benefits to businesses and homebuyers.

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Tax campaign targets sales of second homes

Tax investigators are to target people who have sold properties that are not their main homes and have not informed HM Revenue and Customs (HMRC) about any profit made.

The Property Sales Campaign, which HMRC launched on 5 March, is aimed at people selling homes in the UK or abroad, where capital gains tax (CGT) should be paid on any profits made. Properties involved could include holiday homes or homes that have been given to the people selling them.

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‘Too good to be true’ pension release claims targeted

HM Revenue & Customs (HMRC) has issued a new warning on the risks involved in the early accessing or unlocking of a pension.

The alert came on 23 April, as HMRC warned people with pension savings that they could be targeted by “unscrupulous firms” using misleading information, including offering personal loans or cash incentives to entice them into cashing in pension pots before the age of 55.

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RTI triggers national insurance number guidance

Following the introduction of Real Time Information (RTI) reporting for PAYE, employers have been given new guidance on verifying or obtaining national insurance numbers.

HM Revenue & Customs (HMRC) issued the advice on 12 April after receiving a number of enquiries from employers experiencing difficulties.

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Late filing penalties start adding up

More penalties are on the way in May for taxpayers who have failed to submit their 2011-12 tax return online.

From 1 May, HM Revenue and Customs (HMRC) will charge a £10 daily penalty for each day an online return is late, up to a maximum of 90 days.

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New NMW rates confirmed

The government has announced the new National Minimum Wage (NMW) rates that will take effect on 1 October.

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New help to boost SME cyber security

Small businesses have been offered new support to help protect against cyber attacks.

The move came after the Information Security Breaches Survey, which was commissioned by the Department for Business, Innovation and Skills (BIS), revealed that the number of cyber attacks hitting businesses has increased over the last year.

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Peter Hearne Associates Limited - Accountants in Lichfield
2 Parkside Court, Greenhough Road, Lichfield, Staffordshire, WS13 7FE.
Tel: 01543 250888 | Fax: 01543 250535 | Email: peter@phalichfield.com
VAT no: 705 1249 65 | Company registration no: 04207720

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