September 2018
Milestone for workplace pensions regulation as TPR launches new approach
An increasing number of workplace pension schemes will come under greater scrutiny from The Pensions Regulator (TPR) from next month as part of a significant shift in its approach to protect savers. To reflect major changes in the political, economic and pensions landscape, TPR will be working proactively with more pension schemes through a new range of interventions to address
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Government Gateway replacement: services that have moved
Services on the Government Gateway are gradually being moved to replacement systems. All services will have moved by March 2019. Some services have already moved and cannot be accessed from the Government Gateway. How you access them will depend on the service you’re trying to use. HMRC services Some HMRC services cannot be accessed from the Government Gateway. Find out
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Automatic enrolment is business as usual with vast majority of staff now saving
The vast majority of staff across the UK are now saving for their retirement thanks to the success of automatic enrolment. A report published by The Pensions Regulator (TPR) shows workplace saving continues to rise with 84% of employees now saving into a workplace pension, an increase from 77% last year. TPR’s annual commentary and analysis report (PDF, 1693kb, 41 pages),
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Apprenticeship levy cuts number of training schemes
The first year since the introduction of the apprenticeship levy has seen the number of apprenticeship starters drop by 137,000, although Chancellor Philip Hammond said this decline was expected with more businesses choosing to use their funds for higher-level training programmes. As part of a House of Lords Economic Affairs Committee hearing, Hammond was grilled on the outcome of the
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New crackdown on reckless directors
The UK government is to press ahead with plans to safeguard workers, pensions and small suppliers when a company goes bust. Under the shake-up bosses will face investigation if they try to escape paying their own staff and creditors by dissolving the company. The new powers allow the Insolvency Service to fine directors or even have them disqualified. Business Secretary
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HMRC publishes new guidance on MTD and VAT
HMRC have published guidance entitled ‘Making Tax Digital: how VAT businesses and other VAT entities can get ready’. It provides information for VAT businesses and other VAT entities on what they need to do to prepare for Making Tax Digital. Anyone who runs a VAT-registered business with a taxable turnover above the VAT registration threshold (currently £85,000) is required to
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HMRC outlines ‘no deal’ preparations for EU-only UK traders
HMRC has written to 145,000 VAT-registered businesses across the UK, including Northern Ireland, which only trade with the EU, explaining changes to customs, excise and VAT in the event of a ‘no deal’ Brexit, which would require them to complete customs declarations for the first time. While HMRC stresses that it is ‘unlikely’ the UK will leave the EU in
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UK employees less ethical, reveals Institute of Business Ethics’ survey
UK employees seem to take a more lenient approach than the European average to questionable workplace practices, according to a survey by the Institute of Business Ethics, which looks at employees’ experiences of ethics at their place of work. An important part of the survey is to establish whether employees are able to identify ethical issues relating to everyday choices
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Clear Books successfully completes pilot Making Tax Digital filing
Clear Books has successfully submitted a pilot digital tax return to HMRC. The pilot submission was a vital milestone in preparation for HMRC’s Making Tax Digital (MTD) initiative, which will begin in April 2019 for VAT. MTD requires the UK’s 2.8 million VAT registered businesses to keep business financial records digitally and to submit quarterly returns using HMRC recognised software.
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