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HMRC’s Talking Points

HMRC’s regular Talking Points webinars provide information, guidance and tips to help you to understand tax issues. Forthcoming ones include: Input tax recovery in relation to Option to Tax Tuesday 21 August – 11am to midday: This webinar will provide a general overview of how an Option to Tax can impact input tax recovery, dispelling some of the myths. It

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Petition to save pensions dashboard plan

An online petition to stop the government scrapping its planned pensions dashboard designed to help millions of people keep track of their pensions has attracted over 143,000 signatures in the month it has been open. Hosted on the 38 Degrees website, the petition is addressed to welfare secretary Esther McVey, and has been set up in response to an article

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New FCA rules put pressure on banks over transparency

The Financial Conduct Authority (FCA) has introduced new rules requiring providers of personal and business current accounts to publish information that will help customers to compare bank accounts from different providers. Under the new rules, banks will be required to publish details such as contact centre numbers, opening hours, complaints records, and security breaches, as well as specifying how long

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How to cut IHT obligations

Soaring property prices are helping the government to reap billions of pounds in inheritance tax, but advisory firm Bishop Fleming says families can do more to safeguard their assets from falling into the Treasury’s coffers. The firm, which delivers accounting, tax, corporate restructuring and advisory services to businesses and private wealth advice to individuals, says proper advance planning can result

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HMRC publish guidance on pension savings annual allowances

HMRC have published a guide on carrying forward unused annual allowances for pension savings. ‘Check if you have unused annual allowances on your pension savings’ explains that if pension savings are more than the annual allowance, unused annual allowances from previous years and be brought forward. The annual allowance is the limit on the amount of pension savings that can

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Regulators warn public of pension scammer tactics as victims report losing an average of £91,000 in 2017

A new campaign to tackle pension scams has launched as the latest figures reveal that victims of pension scammers lost an average of £91,000 each in 2017. The Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) have joined forces to urge the public to be on their guard when receiving unexpected offers about their pension and to check who

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Awards up for grabs for business mentors, bookkeepers, accountants and payroll professionals

The IAB’s annual awards are now open for entries and competition is set to be fierce with a new category introduced for 2018 to celebrate the exceptional people working in the finance industry. The categories this year are; IAB Bookkeeper of the Year IAB Accountant of the Year IAB Payroll Professional of the Year IAB Small Business Mentor of the

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The government wants the power to investigate your finances without your permission

The government wants the power to obtain financial information about self-employed taxpayers without getting their permission first. It’s part of its aim to ‘maximise revenues due’ and tackle non-compliance, but experts say it’s a breach of privacy. HMRC has the power to obtain relevant information from taxpayers to check they’re paying the right amount of income tax, Capital Gains Tax,

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Property income allowance gives £1,000 tax relief

Property owners who receive an income from rent could be missing out on a recently introduced tax-free allowance potentially worth hundreds of pounds provided they have low rental income. Taxpayers can claim the property income allowance, which came into effect in April last year, giving the property owner £1,000 of tax relief on their rental income, provided they have few

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