Accountancy Enterprise News

More detail on VAT charge on private school fees

More details have been published regarding Chancellor Rachel Reeves’ plans to impose a VAT charge on private school fees. The government has said that the money raised by ending

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Holiday Lets – the demise of tax concessions

It was announced as part of the Spring Budget measures that the present favourable tax benefits presently allowed for the letting of properties as short-term holiday lets – known

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Pension contributions – claiming higher rate tax relief

You can usually claim tax relief on private pension contributions worth up to 100% of your annual earnings, subject to the overriding limits. Tax relief is paid on pension

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Road fuel costs still too high

The Competition and Markets Authority (CMA) has published an update on the widespread action it is taking to ensure that people can get the best possible choices and prices in the

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Living Wage rates to be overhauled

In a move to put more money in working people’s pockets, the government has overhauled the remit of the Low Pay Commission (LPC).

This will, for the first time, ensure the

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First interest rates cut in over four years

The Bank of England’s Monetary Policy Committee (MPC) met on 1 August and in a very close 5-4 vote decided to reduce interest rates by 25 basis points to 5%. The 4 remaining

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Using the VAT Annual Accounting Scheme

The VAT Annual Accounting Scheme is available to most businesses with an annual turnover of up to £1.35 million. Key benefits of the scheme include the obligation to file just one

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Sharing your home with tenants

If you have tenants in your home there can be Capital Gains Tax (CGT) consequences. Generally, there is no Capital Gains Tax (CGT) on a property used as the main family residence,

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Review your State Pension estimate

You can access the Check Your State Pension forecast service on GOV.UK via this link: https://www.gov.uk/check-state-pension. This digital service is provided jointly by HM Revenue

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