HM Treasury has updated its factsheet on the new Lifetime Individual Savings Account (ISA), which are expected to launch in April 2017. Key features of the new ISA include: – Accounts may be opened by investors aged between 18 and… Read more
Where a client has failed to report all their income and gains, tax advisers and agents are now able tomake a disclosure to HMRC using a new online service. To use the online service, the agent will need to sign… Read more
Following a recent consultation, the Office for Tax Simplification (OTS) is currently consulting on proposed changes to the tax and National Insurance Contributions (NICs) treatment of termination payments. The current rules governing termination payments are complex and are sometimes open… Read more
The Finance Bill 2016 finally received Royal Assent on 15 September, enacting proposals announced in the 2016 Budget, Autumn Statement 2015 and Summer Budget 2015. Amongst other things, Finance Act 2016 includes provisions relating to income tax rates and allowances;… Read more
Q. I have recently changed jobs and need to use my car to make business journeys. Will I have to pay tax on the mileage expenses my employer reimburses me for these trips? A. Employers can pay employees a tax-free… Read more
