Why data protection changes matter now Recent data protection changes have introduced important updates that organisations across the UK need to be aware of. Whether you run a business, charity, or professional practice, handling personal data correctly is no longer just best practice—it is a legal requirement. These updates aim to modernise existing rules, clarify...
Growing frustration over delayed repayments Many UK taxpayers are experiencing long waits for HMRC tax rebates, with some refunds taking more than a year to be paid. These delays are affecting employees, pensioners, and self-employed individuals who are owed money after overpaying tax or National Insurance. For households relying on timely repayments, the situation has...
A welcome update for succession planning The UK government has announced an increase to the IHT relief cap, bringing important changes for families, farmers, and business owners who rely on Agricultural Property Relief (APR) and Business Property Relief (BPR). This update is designed to provide greater certainty and protection for those passing on family assets,...
Household energy bills are expected to rise over the coming years after Ofgem approved major investment in the UK’s energy infrastructure. The funding will be used to upgrade electricity networks and gas pipelines, supporting future demand and renewable energy projects. While the regulator says the investment should reduce long-term costs by improving efficiency, consumers are...
Retailer Mothercare has warned that its future is uncertain after breaching the terms of an emergency loan agreement. The announcement led to a sharp fall in the company’s share price. Recent financial results showed a significant drop in sales and revenue, while outstanding debt remains high. The company has acknowledged that there is material uncertainty...
International law firm Freshfields has launched resilience training programmes for university students aiming to enter the City. The sessions focus on coping with stress, handling feedback and developing professional confidence in demanding work environments. Similar initiatives have been introduced by other professional firms, including accounting and consulting practices, reflecting growing concern around wellbeing and preparedness...
HMRC has lowered the interest charged on late self assessment tax payments, reducing the rate from 8% to 7.75%. The change reflects the link between late payment interest and the Bank of England base rate. Taxpayers who miss the 31 January deadline still face fixed penalties, followed by daily charges and further percentage-based penalties if...
The US economy expanded faster than expected in the third quarter, driven by strong consumer spending, exports and government investment. Official figures show growth exceeded forecasts despite a slowdown in business investment. Inflation also picked up during the period, highlighting ongoing pressure on prices even as economic activity remained robust. Disclaimer The information on...
The government has confirmed that inheritance tax relief for farmers will increase, lifting the threshold from £1m to £2.5m. The move follows widespread concern within the farming community, with concern raised over plans set out in last year’s Budget that would see a 20% tax on inherited agricultural assets worth more than £1m as of...
A salary sacrifice pension is a tax-efficient arrangement where an employee agrees to give up part of their salary, and in return, the employer pays that amount directly into the employee’s pension. Instead of being paid as cash income, the contribution goes straight into the pension pot, which can reduce both income tax and National...
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Copyright by CareAccountancy. All rights reserved.
