HMRC doubles number of investigations into apprenticeship levy underpayments March 25, 2019 The number of investigations by tax authorities into underpayment of the apprenticeship levy has more than doubled in a year. HMRC launched 84 investigations last year collecting an additional £6.2m, according to research by accountancy group UHY Hacker Young. Read more: Apprenticeship levels up on last year but still hampered by 2017 levy There is concern that [...]
Wetherspoon shares swing wildly as profit plunges March 22, 2019 | City Talk Five times the shares failed to make a break above 1,340p stick. Is it sixth time lucky for Wetherspoon? Alongside the usual diatribe against the Brexit process and the tax disparity with supermarkets, pub chain JD Wetherspoon (LSE:JDW) has fallen foul of higher costs, especially with regards to labour. This has impacted the bottom line [...]
Emojis are a better metric for national wellbeing than traditional data methods March 20, 2019 HMRC’s programme to make tax digital continues to roll out. Anyone with a small business will know about the imminent deadline of 1 April, when VAT returns become digital. Quick to seize an opportunity, several companies have developed software to ease the task. The digitisation of tax raises the wider issue of whether technology will [...]
Home-buying or retirement: What are Lifetime Isa savers planning to use their money for? March 20, 2019 When then chancellor George Osborne announced that the government would launch the Lifetime Isa in 2017, the industry was stunned. Designed for people under 40 to either save for retirement or for a home, few people saw this hybrid product coming. Alongside concerns that the Isa could distract from the new workplace pension scheme, a lot of [...]
B&Q owner Kingfisher’s boss to depart as profits slump and stores close March 20, 2019 Kingfisher announced the surprise departure of its chief executive this morning, as a swathe of store closures and a double-digit drop in profits puts mounting pressure on the embattled DIY group. Read more: B&Q owner Kingfisher plans foreign market exit as French sales drag Veronique Laury, who is currently one of six female chief executives in the [...]
The pros and cons of using your Isa savings to invest in tracker funds March 20, 2019 With the 5 April tax deadline fast approaching, have you worked out where is best to invest your Isa savings? If you haven’t, you might like to consider looking at passive investing. Also known as trackers, passive funds simply track what’s happening in big indices, such as the FTSE 100, the S&P 500, and the [...]
Six tips to give your Isa a last-minute savings boost March 20, 2019 As the tax deadline creeps closer, by now you’re probably tired of the constant reminders to use or lose your annual £20,000 tax-free Isa limit. Perhaps you’ve been ignoring the prompts, putting everything off until now. You certainly wouldn’t be alone in doing so. In fact, looking at the past three tax years, wealth management [...]
Marshalls shares race to record high: What now? March 19, 2019 | City Talk Up 78 per cent since we backed them, the shares are still not expensive and the business is in great shape. Marshalls (LSE:MSLH) is an easy company to like. It makes things we all use on a daily basis, and it makes them well. Despite Brexit and a weak construction sector, its concrete paving slabs have [...]
Is the proposed ban on TV junk food ads before 9pm just another example of nanny state regulation? March 19, 2019 Is the proposed ban on TV junk food ads before 9pm just another example of nanny state regulation? Daniel Pryor, head of programmes at the Adam Smith Institute, says YES. When the government wants to treat TV ads for fruit juice like soft porn, you know something has gone horribly wrong. There’s no legal definition of [...]
HMRC demands professional services firms hand over information on clients suspected of tax evasion March 19, 2019 HM Revenue and Customs (HMRC) has issued nearly 1,500 demands to professional service firms for more information on clients suspected of tax evasion, a law firm has found. The taxman issued 1,414 requests to accountants, lawyers and other professional services firms in the year up to 31 March last year for information on clients that [...]