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The latest news from Hawsons Chartered Accountants
The governments work on self-employed pensions faces delay
Trials that would solve the pensions crisis for the self- employed have been delayed. Guy Opperman, minister for pensions and financial inclusion, said: “the government would provide more information about the trial areas later this year, following its...
Making Tax Digital Update
Making Tax Digital – September Update We have been producing regular updates to highlight that HMRC will begin phasing in its Making Tax Digital (MTD) regime from April 2019. Initially this will only be for VAT purposes, with the wider roll out of MTD having been...
Changes on the horizon for PI cover
In March this year, the SRA published a consultation paper on its proposal to make some changes to compulsory professional indemnity insurance (PII) cover for solicitors. This is not the first time that changes to cover have been proposed by the SRA. In November 2014,...
Millennials seek more pension support
In a survey conducted by Prudential, more than half of people under the age of 35 (millennials) want their employer to do more to explain pensions and benefits. The survey was completed by 1,178 millennials and showed that 24% of these people do not have a...
HMRC increases late tax payment rate
HMRC has increased the late payment rate from 3% to 3.25%, while the repayment rate remains frozen at 0.5% Tom Selby, a senior analyst at investment platform AJ Bell thought that this was “grossly unfair”, commenting: “It seems grossly unfair for HMRC to...
Bank of England raises interest rates to highest level since 2009
The Bank of England has raised the interest rates for only the second time in a decade. The increase was from 0.5% to 0.75%. The quarter of a percentage point rise sets the rate at its highest level since March 2009. The rise in the interest rate will no...
Cryptocurrency fraud: £2 million lost over the last two months
Data that has been published by Action Fraud revealed that £2 million was lost due to cryptocurrency scams between June and July this year. Action Fraud stated that criminals are continuing to use social media platforms and even cold calling people in...
SRA’s message to firms: stop offering banking facilities to clients
The Solicitor’s Accounts Rules set out that only money that is linked to an underlying legal service should go through a client account. There must also be a proper connection with those receiving those funds and the legal service the firm has provided. It...
SMEs ‘confident in regard to growth prospects’, survey finds
Wesleyan Bank carried out a survey that showed that UK SMEs are confident about their future growth prospects with almost two-thirds anticipating a growth of up to 40% over the next few years. The ‘SME Heroes or Zeros’ report explained that the survey was...
