Industry News

‘Improve employees’ digital skills via apprenticeships’, organisation urges employers

Research carried out by not-for-profit organisation The 5% Club has suggested that apprenticeships or training schemes could help to improve employees’ digital skills. The research found that fewer than 2% of employers feel confident that their employees are well-placed to take advantage of new developments in technology. 78% of The 5% Club’s members believe that […]


ICAEW urges employers to consider the tax implications of a seasonal party

The Institute of Chartered Accountants in England and Wales (ICAEW) has urged employers to consider the tax implications associated with a seasonal party. A company end of year party can be a great way to celebrate the festive period, as well as employees’ hard work. However, there are certain conditions to consider in order to […]


HMRC writes to taxpayers ahead of introduction of Welsh rates of income tax

HMRC has started to write to taxpayers ahead of the introduction of the Welsh rates of income tax (WRIT) on 6 April 2019. From this time, taxpayers will pay the WRIT if their main residence is situated in Wales. The Welsh government will set the rates. It intends to use the money raised by the […]


OTS calls for overhaul of inheritance tax regime

The Office of Tax Simplification (OTS) has urged HMRC to overhaul the UK’s inheritance tax (IHT) regime. In January 2018, Chancellor Philip Hammond commissioned the OTS to carry out a review of the IHT regime, and outline ways in which the tax can be simplified. In its report, which is the first of two, the […]


Committee warns small firms ‘could pay heavy price’ for MTD for VAT

The Economic Affairs Committee has warned HMRC that UK small businesses ‘could pay a heavy price’ for Making Tax Digital for VAT (MTD for VAT). In a new report, the Committee stated that HMRC has ‘failed to adequately support small businesses’ ahead of the introduction of MTD for VAT. The initiative is set to come […]


First-time homebuyers ‘saved £426 million’ as result of changes to stamp duty

Data published by HMRC has revealed that first-time homebuyers have collectively ‘saved £426 million’ as a result of changes to Stamp Duty Land Tax (SDLT). In the 2017 Autumn Budget, Chancellor Philip Hammond announced a new exemption from SDLT for most first-time homebuyers. From 22 November 2017, first-time buyers in England and Northern Ireland paying […]


Self-employed individuals ‘would back plans to expand pensions auto-enrolment’

A survey carried out by insurance firm Prudential has suggested that over half of self-employed workers would back plans to expand pensions auto-enrolment, or make pension saving compulsory. According to the survey, 27% of those polled would support the expansion of pensions auto-enrolment to cover the self-employed, and an additional 27% would back compulsory pension […]