Auditors ‘are letting charities down’

The Charity Commission believes some auditors in England and Wales are letting the sector down after around half of charities failed to meet basic benchmarks. The regulator scrutinised 296 charities with various incomes and found that 44% of accounts submitted by...

Government lifts help-to-buy restriction

New measures have been introduced to make it easier for help-to-buy borrowers to take out 35-year mortgages. The changes, which took effect on 28 August 2019, were introduced on the back of remortgaging difficulties faced by homeowners using the help-to-buy scheme....

Parents become ‘one of the UK’s biggest mortgage lenders’

Parents who help their adult children take their first steps on the property ladder are among the highest mortgage lenders in the UK, a survey claims. Research from Legal & General (L&G) showed the average parental contribution in 2019 is £24,100 – an increase...

First quarterly MTD for VAT deadline

More than one in ten VAT-registered businesses missed the first mandatory deadline for submitting quarterly returns through Making Tax Digital (MTD). The main submissions deadline came and went on 7 August 2019, and around 116,000 firms with VAT quarters ending on 30...

Number of non-doms falls to record low

The number of wealthy individuals who are domiciled abroad has fallen to its lowest level ever, prompted by a combination of tax changes and political uncertainty. According to HMRC statistics, there were 78,300 non-domiciled taxpayers in 2017/18, contributing an...