Retirees paying £4bn more tax than previously thought

Pensioners are paying around £4 billion more in income tax than had previously been estimated, according to Royal London and the Centre for Policy Studies. The latest figures published by HMRC show that pensioners paid £17.9 billion in income tax on their pensions in...

SMEs think UK tax system is ‘unfair’

Most small business owners do not think the tax system treats their business fairly, according to research from the British Chambers of Commerce (BCC). In a survey of 1,000 firms, 58% of SME owners said they think the UK tax system is unfair., while 67% don't believe...

Savers withdraw £25.62bn through pension freedoms

The total amount of withdrawals made using pension freedoms since April 2015 has risen to £25.62 billion, Government statistics show. People aged 55 and over have benefitted from more choice when it comes to accessing their pension savings from 2015/16. In 2018/19,...

Early MTD sign-ups could result in penalties

Businesses that signed up to Making Tax Digital (MTD) before they were ready to meet the requirements could risk incurring penalties, the Association of Taxation Technicians (ATT) has warned. MTD for VAT came into force on 1 April 2019, requiring VAT-registered...

Early MTD sign-ups could result in penalties

Businesses that signed up to Making Tax Digital (MTD) before they were ready to meet the requirements could risk incurring penalties, the Association of Taxation Technicians (ATT) has warned. MTD for VAT came into force on 1 April 2019, requiring VAT-registered...