Older workers ‘may be paying unnecessary tax on State Pension’, research suggests

Research carried out by insurer Royal London has suggested that half a million older workers could be ‘paying unnecessary tax’ on their State Pension. Royal London stated that this is because older workers have ‘failed to take up the option of deferring their State Pension until they stop work’. Consequently, the whole of their State [&hellip
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Business leaders urged to ‘do more’ to help prevent cyber-attacks

Following the publication of the government’s 2019 Cyber Security Breaches Survey, business leaders are being urged to ‘do more’ to protect their firms from cyber-attacks and cybercrime. The survey showed that 32% of businesses reported experiencing a cyber security breach or attack in the last 12 months. This represents a reduction when compared to last [&hellip
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TUC states shared parental leave scheme needs ‘overhauling’

The Trades Union Congress (TUC) has stated that the shared parental leave and pay scheme needs ‘overhauling’, and has urged the government to take action. The scheme was introduced four years ago, and allows parents to share up to 50 weeks of leave and up to 37 weeks of pay between them. Research published by [&hellip
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MTD for VAT takes effect for over one million businesses

On 1 April, the government’s Making Tax Digital for VAT (MTD for VAT) initiative came into effect. Businesses which have a taxable turnover above the VAT registration threshold (currently £85,000) are now required to comply with MTD for VAT. As part of the initiative, firms must keep some records digitally, using ‘functional compatible software’. This [&hellip
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ATT warns of tax changes for non-residential UK property owners

The Association of Taxation Technicians (ATT) has warned non-resident UK property owners that changes set to take effect from April will require them to pay tax on all UK land disposals, no matter whether residential or commercial. Since 6 April 2015, non-UK residents selling a residential property have been required to file a tax return [&hellip
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ONS warns automation could ‘replace 1.5 million jobs’

The Office for National Statistics (ONS) has warned that automation could replace up to 1.5 million jobs in the UK, leaving workers unemployed. In a new report, the ONS found that 70% of the jobs at risk of becoming automated are carried out by women. It also revealed that the jobs ‘most at risk’ of [&hellip
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HMRC urges firms to sign up for MTD for VAT

With less than a week to go, HMRC is urging those firms which haven’t signed up for the Making Tax Digital for VAT (MTD for VAT) scheme to do so ‘as soon as possible’. It is also advising businesses which have yet to prepare to ‘get ready now’ for MTD for VAT. MTD for VAT [&hellip
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Government publishes additional Brexit advisory documents

The government has published additional documents containing advice on Brexit for UK small businesses. According to the government, the information will help business owners to ‘understand how leaving the EU may affect their business’. The advisory documents cover a range of issues, from changes to UK-EU trade following Brexit, to alterations to how businesses send [&hellip
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Data reveals 84,000 people fell victim to bank payment scams in 2018

Trade association UK Finance has revealed that more than 84,000 bank customers fell victim to so-called bank payment scams in 2018. According to data published by UK Finance, in the first half of 2018, £93 million was transferred out of personal accounts to fraudsters, with the customer’s permission. In the second half of 2018, £135 [&hellip
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NEF calls for personal allowance to be replaced with ‘weekly national allowance’

Think tank the New Economics Foundation (NEF) has called for the income tax personal allowance to be replaced with a new ‘weekly personal allowance’. In April 2019, the personal allowance will rise from £11,850 to £12,500. In a new report, the NEF stated that the expansion of the personal allowance is ‘one of the most [&hellip
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