Latest News

October 2014

55% pensions tax on death scrapped

Banks and Co say that the Government’s plans to scrap the 55% tax rate levied on unused contribution pensions assets that are passed on death could benefit inheritance tax (IHT) planning.

HMRC campaign targets credit and debit card sales

Banks and Co are urging businesses accepting credit and debit card payments to take advantage of a new HMRC campaign giving them an opportunity to bring their tax affairs up to date under the best possible terms.

HMRC fake tax refund warning

Banks and Co are warning people to be on the look out for fake tax refund emails, after a reported 70% increase in the past six months.

Shared parental leave to come into force

Banks and Co are reminding employees that from 5 April 2015, additional paternity leave and pay will be abolished to be replaced by shared parental leave (SPL).

RTI penalties delayed for smaller firms

HM Revenue & Customs (HMRC) has announced that the introduction of automatic penalties for late real time information (RTI) submissions will be put back for smaller employers.

Digital businesses urged to sign up for new VAT service

Thousands of UK businesses supplying digital services across the European Union (EU) will be able to register for a new online VAT service from 20 October.

Employers urged to act now on auto-enrolment

Hundreds of thousands of small businesses have been urged to check when they need to meet their new workplace pensions duties.

Accounting rules shake-up planned for 11,000 businesses

An estimated 11,000 UK medium-sized businesses could benefit to the tune of £8 million a year as a result of planned changes to accounting rules.

Bereavement at work guidance launched

New guidance has been published to help employers support employees following bereavement.

Latest fuel advisory rates published

HM Revenue & Customs (HMRC) has updated its advisory fuel rates, applying to all journeys on or after 1 September 2014.

 

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Accountants Newbury, Berkshire
Accountants Newbury, Berkshire

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Banks & Co: The Budget Statement 2014