Official review for controversial loan charge

Chancellor Sajid Javid has announced an independent review of the controversial loan charge that applies to disguised remuneration schemes. HMRC was authorised by parliament to pursue individuals and companies that used the schemes dating back to 1999. The aim of the...

Businesses gripped by Brexit inertia

More UK firms plan to downscale business investment in the event of a no-deal Brexit, the British Chambers of Commerce (BCC) has claimed. The BCC polled 1,590 businesses of all sizes and sectors and found that 24% would revise investment plans down, while only 4%...

Treasury to review tapered annual allowance

High net-worth individuals will be familiar with the tapered annual allowance and its potential to restrict pension contributions. They will probably welcome the news that the Treasury is set to review it in the coming months, although nobody knows when given recent...

1 in 4 over-60s opt out of workplace pensions

Around a quarter of over-60s in employment are believed to be opting out of saving into workplace pensions through auto-enrolment, a report claims. Royal London claimed 23% of employed sexagenarians were opting out of auto-enrolment, much higher than the 10% national...

Reverse charge VAT for builders delayed

Reverse charge VAT for construction services has been delayed by 12 months, less than three weeks before it was due to take effect. Back in June 2019, we compiled a newsletter saying the way VAT is collected in the construction and building industry was changing from...