The Chancellor announced new rules on Entrepreneurs’ Relief in this year’s Budget, lessening some of the challenging restrictions he introduced last year. However, this year’s changes look set to lead to problems of their own. Entrepreneurs’ Relief was firmly in the Chancellor’s sights last year as he faced political pressure to take action on tax… Read more…

A new report has found that UK freelancers, sole traders and micro-businesses could potentially be failing to claim millions of pounds worth of tax relief from unclaimed expenses they deem too small or time-consuming. Research conducted by FreeAgent, a cloud accounting software provider, has revealed that around a quarter of a billion pounds worth of expenses… Read more…

The latest figures from the Office for National Statistics (ONS) has shown that labour productivity – measured as output per hour – fell by 1.2 per cent in the final quarter of 2015. During the same quarter both worker and job output remained unchanged however, across all measures, productivity was half a per cent higher… Read more…

The Administrative Burdens Advisory Board (ABAB) has said it has serious concerns about the government’s proposals to introduce quarterly reporting, similar to tax returns, for businesses. The body, which provides independent oversight of HM Revenue & Customs (HMRC) policies, said the quarterly updates will add an extra burden to businesses due to increased record keeping… Read more…

A number of recent court judgments need to be considered when calculating holiday pay and the rules employers and workers must follow to calculate holiday pay may need to be updated. Below are some of the points your business may need to be aware of when calculating holiday pay: Guaranteed overtime Following a judgement in… Read more…

A new report published by insurance and pension provider Standard Life has revealed the key drivers of success for UK SMEs over the next five years. Having polled both SME leaders and employees, the report highlights the fundamental trends of collaboration, empowerment and adaptability as central to growth. SME leaders said the number one priority… Read more…

It has been estimated that more than 1.7 million self-employed workers now earn below the new National Living Wage. According to the Social Market Foundation’s (SMF) research this number will eventually rise to 1.9 million by 2020, affecting the 14 per cent of the UK workforce who are self-employed. The SMF’s annual Family Resources Survey… Read more…

The Chancellor used his latest Budget announcement to deliver a raft of changes to the personal tax regime. George Osborne said that his latest Budget would be a statement for the next generation and he delivered on this promise by introducing a new Lifetime ISA. The announcement of a Lifetime ISA could prove a boon… Read more…

The move to tax loans to participators at a higher rate was not announced by the Chancellor in his main speech to Parliament. However, further investigation of the Budget documents has revealed that from this month, the rate of tax payable by a company on any balances lent to an individual participator or related unincorporated… Read more…

In the last year the buy-to-let sector has been hit by a number of new government measures aimed at increasing the Treasury’s tax take from the sector. However, landlords may not be aware of the HM Revenue & Customs (HMRC) Let Property Campaign; a scheme that offers an amnesty to individuals who have failed to… Read more…