News

Marriage Allowance

HMRC reveals 700,000 couples are ‘missing out’ on Marriage Allowance

HMRC has estimated that around 700,000 couples are ‘missing out’ on the Marriage Allowance, which could save them up to £238 in tax. Introduced in April 2015, the Marriage Allowance enables spouses to transfer a fixed amount of their personal allowance (PA) to their partner. The option is available...

HMRC has estimated that around 700,000 couples are ‘missing out’ on the Marriage Allowance, which could save them up to £238 in tax. Introduced...

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Brexit

BCC publishes list of 20 ‘unanswered’ ‘no deal’ Brexit questions

The British Chambers of Commerce (BCC) has published a list of 20 ‘unanswered, critical questions’ in relation to a ‘no deal’ Brexit scenario. The BCC’s questions highlight a range of ‘key issues’ that are ‘unclear’ for businesses in regard to a no deal Brexit scenario. The questions cover such...

The British Chambers of Commerce (BCC) has published a list of 20 ‘unanswered, critical questions’ in relation to a ‘no deal’ Brexit scenario. The...

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austerity

Chancellor will be required to spend £billions, to end austerity, says IFS

In a new report, economic think tank the Institute for Fiscal Studies (IFS) has suggested that Chancellor Philip Hammond will be required to spend £billions more in order to end austerity. The report suggested that spending increases promised by the Chancellor could be absorbed by a commitment to fund...

In a new report, economic think tank the Institute for Fiscal Studies (IFS) has suggested that Chancellor Philip Hammond will be required to spend...

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probate fees

Rise in probate fees to take effect despite opposition

Government plans to increase probate fees are set to go ahead despite considerable opposition. Currently, for estates valued at over £5,000, a grant application made by a solicitor is subject to a flat fee of £155. A grant application made by an individual is subject to a fee of £215....

Government plans to increase probate fees are set to go ahead despite considerable opposition. Currently, for estates valued at over £5,000, a grant application...

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Structures and Buildings Allowance

CIOT urges government to simplify Structures and Buildings Allowance

The Chartered Institute of Taxation (CIOT) has urged the government to simplify its new Structures and Buildings Allowance (SBA). The Structures and Buildings Allowance provides relief for expenditure on certain new, non-residential structures and buildings. Eligible construction costs incurred on or after 29 October 2018 will qualify for relief:...

The Chartered Institute of Taxation (CIOT) has urged the government to simplify its new Structures and Buildings Allowance (SBA). The Structures and Buildings Allowance...

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Brexit

Study suggests UK workers ‘have already lost a week’s wages’ to Brexit

A study carried out by the University of Warwick’s Centre for Competitive Advantage in the Global Economy (CAGE) has revealed that the average UK worker has already lost a week’s wages as a direct result of Brexit. According to the study, in the first year following the Brexit referendum,...

A study carried out by the University of Warwick’s Centre for Competitive Advantage in the Global Economy (CAGE) has revealed that the average UK...

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