Pensions income needed to retire rises

The amount needed for a single person to have a moderate retirement has risen to £31,300, according to the Pensions and Lifetime Savings Association (PLSA).

The rising cost of living and an…

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Self Employment Income Support Scheme Grants

HMRC are inviting those individuals that are self employed or a member of a partnership and have been adversely affected by coronavirus to claim a second grant under the Self Employed Income Support…

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Winter Economy Plan support for the self-employed

As part of the Winter Economy Plan the Self-Employment Income Support Scheme (SEISS) will be extended under the name SEISS Grant Extension. The grant:

  • will be limited to self-employed…

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ATT issues last call for firms seeking to use increased Annual Investment Allowance

The Association of Taxation Technicians (ATT) has issued a last call for businesses looking to make use of the increased Annual Investment Allowance (AIA).

The AIA will be reduced from £1…

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Gifts to employees can be tax-free

Some employers may wish to give a small gift to their employees. As long as the employer meets the relevant conditions, no tax charge will arise on the employee.

A tax exemption is available…

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VAT deferral

HMRC has issued some guidance to taxpayers that deferred their VAT payments between 20 March and 30 June 2020 and still have payments to make.

HMRC is advising taxpayers who deferred their…

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Supreme Court backs small firms on business interruption claims

The UK's Supreme Court has found in favour of small firms receiving payments from COVID-19 business interruption insurance policies.

The test case was brought against insurers by the Financial…

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Business rates relief extended with £1.5 billion fund

The government is to extend business rates relief with a £1.5 billion fund targeted at those businesses unable to benefit from the current COVID-19 support.

Retail, hospitality and leisure…

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Pension fraud increased to £1.8 million in first quarter of 2021

Losses from pension fraud rose to £1.8 million in the first three months of this year, according to figures from Action Fraud.

107 reports of pension fraud were made in the first quarter…

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