It can be easy to overlook tax opportunities that can save you money, but here are four little-known tax rules/reliefs that you may be able to take advantage of.
The prevalence of errors in NHS pension records is a pressing issue, with reports of nearly 20% of records containing mistakes. These errors can lead to significant financial consequences, from incorrect annual allowance tax charges to discrepancies in accrued pension benefits.
When it comes to the audit of a group of companies in the UK, the UK parent company can make a statutory guarantee, to its subsidiary or subsidiaries to reduce the overall audit scope. But what are the benefits and risks?
After another year of changing rules and regulations - the removal of the lifetime allowance and the increase to the annual allowance alongside the implementation of the McCloud remedy - the pension landscape for NHS members has never been more complex. But how do these changes impact your NHS pension?
‘Pay Transparency for General Practice’ was initially introduced (and set out in legislation) in October 2021. However, shortly thereafter, as a consequence of the work demands of covid, the Department for Health and Social Care put it on hold… until now! The data collection has resumed and will commence with NHS Earnings for 2021/22.
Despite intense pressure to cut taxes in his first Spring Budget, the Chancellor resisted, and while he seemed to deliver a fiscal plan that promised to stimulate growth.
The changes may result in significant tax balances through the transitional period, so it pays to plan ahead and be prepared for the change. To ‘fail to plan’ is to ‘plan to fail’!
Covid-19 has forced us all to think about our own financial situation. The need for financial resilience, stability and control has become front of mind for many when faced with job insecurity or the possibility of falling ill and becoming incapable of working. Furlough is now a thing of the past we hope as we move out of the pandemic to the endemic phase, Omicron notwithstanding.
Armstrong Watson has teamed up with the Medical Defence Union (MDU), the UK's leading medical defence organisation, and its partner organisation the Dental Defence Union (DDU), to provide its members with access to tax, accountancy and business advisory services.