Latest News

February 2016

UK families facing inheritance tax hits 35-year peak

The Office for Budget Responsibility (OBR) has released new figures that show the number of UK families paying inheritance tax (IHT) is at a 35-year high.

Buy-to-let mortgage applications from limited companies more than double as landlords strive to beat tax hikes

The number of buy-to-let loan applications from limited companies has surged in recent months as landlords prepare for tax hikes starting in April, say mortgage brokers.

Small firms struggle with workplace pensions

A survey by the Federation of Small Businesses (FSB) has found that nearly half of the employers who must set up a workplace pension scheme for their staff in the next two years are confused about their responsibilities.

Excuses, excuses

HM Revenue & Customs (HMRC) has revealed the worst excuses it has heard over the previous year from people filing late tax returns.

Employment Allowance set to rise

The Employment Allowance that enables employers to reduce their NI bill by £2,000 is being extended from 6 April 2016 to £3,000.

MPs say the UK is not ready for digital tax

During the Chancellor’s 2015 Autumn Statement, the Government announced its plans to reform tax legislation to require small businesses, the self-employed and landlords to update HMRC quarterly, rather than completing an annual tax return. The Government intends for quarterly updates to be initially introduced from 2018 and phased in fully by 2020.

Audit exemption for small companies

The Government has considered responses to questions posed on the audit exemption threshold in its discussion paper on the implementation of the Audit Directive (2014/56/EU) and the Audit Regulation (Regulation 537/2014) and raised the audit exemption threshold.

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Autumn Statement 2015

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