Firms set for first quarterly VAT returns through MTD

VAT-registered businesses with an annual turnover above £85,000 are being urged to sign up for Making Tax Digital (MTD) before the scheme's first quarterly filing deadline. MTD for VAT became law on 1 April 2019, requiring most VAT-registered firms to keep digital...

More over-65s pay additional-rate income tax

The number of pensioners paying income tax at the additional rate of 45% has increased over the past three years, government statistics show. In 2019/20, income tax is charged at a basic rate of 20% for annual income between £12,501 and £50,000, while the higher rate...

Over-65s face social care ticking time bomb

The number of people needing social care in later life is on the rise, but worryingly low numbers of people have made any provision to pay for it. Recent research from the Association of British Insurers (ABI) showed only 10% of over-65s have planned to pay for social...

HMRC gives the green light for IR35 extension

HMRC is pressing ahead with extending IR35 rules to the private sector from April 2020, despite several industry bodies calling for more time. Bodies like the Association of Chartered Certified Accountants (ACCA) had called for a one-year delay to provide enough time...

Government plans to reform statutory sick pay

Small employers may be offered a sick pay rebate for effectively managing workers on sickness absence, under proposed reforms to statutory sick pay rules. The Government is looking at extending eligibility for statutory sick pay to workers earning below the current...