Latest News

August 2014

Inheritance tax rises 8.6%

Banks & Co is welcoming news that the economy is growing in strength as inheritance tax (IHT) receipts are up by 8.6% this year to more than £3.4bn, meaning that it is moving close to levels last seen before the financial crisis.

Self-assessment guidance on the move

Banks & Co are reminding self-employed individuals that HMRC is moving self-assessment guidance to the GOV.UK website.

Four million workers not enrolled in workplace pension schemes

Banks & Co say many people are under-saving for retirement, after data revealed that nearly 4.5 million people were not enrolled in a workplace pension scheme.

HMRC targets schemes with upfront tax payments

A list of tax avoidance schemes whose users may be required to make an upfront payment of tax has been published by HM Revenue & Customs (HMRC).

Sick leave reduction service provider named

The government has named the company it has chosen to deliver a new service, designed to help employees and employers better manage sickness absence and reduce the costs involved.

Auto-enrolment passes key milestone

All the UK’s largest businesses have now passed their staging dates for automatically enrolling eligible workers into qualifying workplace pension schemes.

Growth fund support hits new high

The number of small and medium-sized enterprises (SMEs) supported through the government’s Regional Growth Fund (RGF) has trebled over the past year, new figures show.

HMRC issues guidance on ‘swaps’ tax

HM Revenue & Customs (HMRC) has issued guidance on how redress payments made to businesses that have been mis-sold interest rate hedging products should be accounted for on tax returns.

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Accountants Newbury, Berkshire
Accountants Newbury, Berkshire

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Banks & Co: The Budget Statement 2014