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UK unpaid overtime equates to £32bn

UK workers contributed £31.2bn of free labour last year, completing a total of two billion hours unpaid overtime, according to research by the TUC. Its analysis suggests some 5m workers put in an average of 7.4 extra unpaid hours, missing out on an average of £6,265.  The TUC says that for the average worker, that is equivalent to not being

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Looks like cash is on the way out

Card transactions, driven by our love of contactless, are now outpacing cash ones for the first time. The Bank of England has said we passed ‘cash peak’ sometime last year. Apart from being a seminal moment in the history of finance, there is real concern that the decline in cash transactions could lead to higher costs for smaller retailers as

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HMRC levels the playing field by tackling online VAT fraud

Powers to ensure online sellers pay the right tax, and don’t leave law-abiding high street and online businesses at a disadvantage, came into force on 15 March. These new rules strengthen powers to make online marketplaces accountable for VAT fraud committed by online sellers on their platforms. These powers are known by the term joint-and-several liability (JSL) for online marketplaces.

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Gift Aid Small Donations Scheme: how to claim top-up payments

HMRC have updated their online guidance for charities gift aid small donations scheme to reflect a new address to notify HMRC of a charities merger. Gift Aid Small Donations Scheme: how to claim top-up payments explains how a charity or community amateur sports club (CASC) can claim top-up payments on small donations up to £20. The guide explains that from

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Small businesses spend three working weeks on tax compliance

The average UK small business spends £5,000 and three working weeks every year on tax compliance, according to research from the Federation of Small Businesses (FSB), which is calling for the system to be simplified. The survey of over 1,000 small businesses found that almost half (46%) say determining the tax rates at which they are required to pay is

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More people approaching charities for tax advice

Charities providing tax advice to vulnerable and low income taxpayers say demand for their help has currently risen to near record levels, partly as a result of growing complexity in the tax system and changes in working patterns. Gary Millner, joint chief executive of TaxAid UK and Tax Help for Older People, said: “Over a quarter of a million people

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HMRC guidance: SDLT and late filing penalties

HMRC have updated guidance on how to appeal against a late filing stamp duty land tax penalty to reflect a new address for sending appeals to. Stamp Duty Land Tax: appeal against a late filing penalty explains when and how to appeal against a Stamp Duty Land Tax penalty and the deadlines for making an appeal. Appeals should be sent

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HMRC guidance: PAYE and National Insurance contributions 2018-19

HMRC have published the 2018-19 version of guidance CWG2: Further guide to PAYE and National Insurance contributions. CWG2: Further guide to PAYE and National Insurance contributions explains about detailed Pay As You Earn (PAYE) and National Insurance contributions (NICs) for current and previous years for employers. The guide has been updated for the tax year 2018-19 for use from 6

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Company car uptake grows by 10,000

The introduction of low tax electric cars has resulted in 960,000 individuals being provided with company cars in 2015/16, up 10,000 (1.05%) on the previous year, according to research from UHY Hacker Young. The popularity of electric cars could be the reason behind this increase in uptake as these vehicles have low tax rates compared to diesel and petrol cars.

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