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What you can do with your pension pot

  • Posted On: 14 August 2019
What you can do with your pension pot Pension Wise is a free government service that was launched in 2015 to help provide individuals with general pension advice. However, the service does not answer specific questions relating to your pension. The main advice the service provides is

When you can claim back VAT on purchase of a car

  • Posted On: 14 August 2019
When you can claim back VAT on purchase of a car There are complex VAT rules that determine the amount of VAT that can be recovered when purchasing a new car. The usual rule is that when you purchase a car for your business then no VAT can be reclaimed. The main exception to this rule is when the

Child Benefit charge if income exceeds £50,000

  • Posted On: 14 August 2019
Child Benefit charge if income exceeds £50,000 The High Income Child Benefit charge (HICBC) applies to a parent whose income exceeds £50,000 in a tax year and who is in receipt of Child Benefit. If both parents have an income that exceeds £50,000, the charge will apply to the highest

VAT and insurance claims

  • Posted On: 14 August 2019
VAT and insurance claims Insurance transactions are generally VAT exempt. However, there are many issues that can arise concerning the VAT liability of certain insurance transactions. One of these issues concerns the VAT treatment of insurance claims. Insurers are unable to

When are Class 1A NICs due

  • Posted On: 14 August 2019
When are Class 1A NICs due Class 1A NICs are paid by employers in respect of most benefits in kind provided to employees, for example, the use of a company car. There are no Class 1A employee contributions payable. Class 1A NICs are due in respect of most benefits provided

How do you calculate adjusted net income?

  • Posted On: 14 August 2019
How do you calculate adjusted net income? To calculate adjusted net income, you will need to look at a taxpayer’s total taxable income, before personal allowances, and then deduct any trading losses, gift aid donations, gross pension contributions and pension contributions where the

Pregnant women and new parents to get enhanced redundancy protections

  • Posted On: 08 August 2019
Pregnant women and new parents to get enhanced redundancy protections The government has published its response to its January 2019 consultation on “pregnancy and maternity discrimination: extending redundancy protection for women and new parents” and has confirmed that it will now take action to address

Lowest paid to be eligible for sick pay

  • Posted On: 07 August 2019
Lowest paid to be eligible for sick pay A new consultation launched jointly by the Department for Work and Pensions and the Department of Health and Social Care, is seeking views on different ways in which both the Government and employers can take action to reduce ill health-related job

Visiting EU after 31 October 2019

  • Posted On: 07 August 2019
Visiting EU after 31 October 2019 Although we have a new Prime Minister, it would seem that so far nothing has changed to bring us any closer to a Brexit resolution. In fact, it appears that a no-deal Brexit is becoming more likely as we approach the 31 October deadline. HMRC has

Last chance to join the Help to Buy ISA scheme

  • Posted On: 07 August 2019
Last chance to join the Help to Buy ISA scheme The Help to Buy ISA scheme will close to new savers after 30 November 2019. This leaves less than 4 months to open an account before the product is due to be withdrawn by the Government. Once opened, account holders can continue to save in their ISA