Small employers risk losing the employment allowance in 2020

Plans to remove the employment allowance for large employers from April 2020 could have a domino effect on smaller firms. The employment allowance currently provides employers with a reduction of up to £3,000 to their national insurance contributions (NICs) bill. From...

Number of state pension recipients falls by 120,000

The number of people receiving the state pension has fallen by 120,000 year-on-year, following changes to the state pension age. Statistics from the Department for Work and Pensions (DWP) show 13 million people received the state pension in February 2019. It said the...

Retailers call for business rate reform

More than 50 major retailers have signed a letter to Chancellor Sajid Javid, calling for reforms to the business rates. Business rates are charged on most non-domestic properties, based on their rateable value and a multiplier set by the Government. The British Retail...

HMRC repays record sum from pensions tax trap

The number of over-55s who had to reclaim tax after taking money from their pension hit a record high in June. More than 17,000 savers reclaimed tax worth £46 million in the three months between April and June 2019, according to quarterly figures from HMRC. Around...

The construction industry scheme

The construction industry is growing, with 314,590 firms operating in the UK in 2017 and an economic output of £113 billion. If your business is one of them, it's likely you'll need to register for the construction industry scheme (CIS). This comes with a set of...