Capital gains tax revenue hit a record new high of £8.8bn for the 2017-18 tax year, as 281,000 taxpayers paid a bill for selling valuables. Revenue from capital gains tax (CGT) increased 14% compared with 2016-17. The bulk of the bill was paid by high earners who made gains of £1m or more, though these […]
07
Aug
Aug
VAT registration for a business becomes mandatory if its vatable turnover crosses the VAT registration threshold which is, at the moment, £85,000. Most of the businesses believe that the period which they should consider to calculate this turnover is their financial year. Meaning if the financial period of their business is July to June, the […]
24
Jul
Jul
Almost all PAYE workers are entitled to 5.6 weeks as paid holiday per year. This includes agency workers, irregular workers and zero-hour workers. Part time workers are also entitled to holiday prorated. Beside basic pay, overtime should also be included in the calculation of holiday entitlement. There are different types of overtime, Guaranteed overtime, Non-guaranteed […]
15
May
May
An accountant from Northampton who confessed deceiving renowned names, including singer Rita Ora and rugby player matt Davison, out of more than three million pounds is now behind bars. Andrew Munday, from Northamptonshire, used the money to buy luxury houses, watches and an executive lounge membership at Tottenham Hotspur football club. He previously pleaded guilty […]
29
Mar
Mar
New National Minimum Wage Requirements applicable from April 2018 As you may already be aware that every April new hourly rates are applicable for the National Living Wage, applicable to persons aged 25 and above and the National Minimum Wage, applicable to persons to school leaving age. Following are the detail of the changes to […]
29
Mar
Mar
New deemed domicile rules for inheritance tax Date: 07/02/2018 HMRC has published a guidance detailing new deemed domicile rules for inheritance tax (IHT). The new rules will apply from 6 April 2017. Guidance also include changes to the number of years of residence needed in the UK for deemed domicile rules to apply and the […]
29
Mar
Mar
Canada plans to introduce tax on cannabis Date: 30/10/2017 According to a recently released report from Marijuana Business Daily titled “Marijuana Business Factbook 2017,” the U.S. legal cannabis industry is expected to grow by about 30% in 2017, 45% the following year, and an aggregate of 300% between 2016 and 2021. Overall, we’re talking about […]
29
Mar
Mar
CAN GOVERNMENT POLICY ON THE UK PROPERTY MARKET DAMAGE THE ECONOMY? Date: 30/10/2017 CAN GOVERNMENT POLICY ON THE UK PROPERTY MARKET DAMAGE THE ECONOMY? By Godwin OkriIt has long been a settled argument amongst free-market economists that a liberated market is a flourishing market. This is why some economists wince each time they read about […]
29
Mar
Mar
Job Opportunity Date: 18/06/2014 One of our clients is looking for a friendly, positive and approachable Shop Manager for Leeds branch of a big nationwide franchise of cakes and related items. Main Duties: To manage the day-to-day provision of cake designs and to exceed customers’ expectations. To develop the business and sales opportunities where possible. […]
02
Oct
Oct
Non-residents and UK Properties Date: 10/02/2014 Capital Gain Tax (CGT) will be charged on future gains realised by non-residents on the sale of their residential property in the UK. It has long been an anomaly that a non-resident pays no CGT on UK assets. A consultation document will be published on how best to introduce […]
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