Business leaders have given a cautious welcome to the governments’ plan to extend the Funding for Lending scheme. The scheme is designed to encourage banks to lend by making cheap loans available, on the condition that they will pass on the benefits to businesses and homebuyers. Bank of England figures suggest banks took nearly £14 … Continue reading →

Tax investigators are to target people who have sold properties that are not their main homes and have not informed HM Revenue and Customs (HMRC) about any profit made. The Property Sales Campaign, which HMRC launched on 5 March, is aimed at people selling homes in theUKor abroad, where capital gains tax (CGT) should be … Continue reading →

HM Revenue & Customs (HMRC) has issued a new warning on the risks involved in the early accessing or unlocking of a pension. The alert came on 23 April, as HMRC warned people with pension savings that they could be targeted by “unscrupulous firms” using misleading information, including offering personal loans or cash incentives to … Continue reading →

Following the introduction of Real Time Information (RTI) reporting for PAYE, employers have been given new guidance on verifying or obtaining national insurance numbers. HM Revenue & Customs (HMRC) issued the advice on 12 April after receiving a number of enquiries from employers experiencing difficulties. It said: “Employers are receiving rejections for national insurance number … Continue reading →

More penalties are on the way in May for taxpayers who have failed to submit their 2011-12 tax return online. From 1 May, HM Revenue and Customs (HMRC) will charge a £10 daily penalty for each day an online return is late, up to a maximum of 90 days. This daily penalty will come in … Continue reading →

The government has announced the new National Minimum Wage (NMW) rates that will take effect on 1 October. The following rates will come into effect on 1 October 2013: the adult rate will increase by 12p to £6.31 an hour the rate for 18-20 year olds will increase by 5p to £5.03 an hour the … Continue reading →

Small businesses have been offered new support to help protect against cyber attacks. The move came after the Information Security Breaches Survey, which was commissioned by the Department for Business, Innovation and Skills (BIS), revealed that the number of cyber attacks hitting businesses has increased over the last year. It showed 87 per cent of … Continue reading →