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New £20 note unveiled

The Governor of the Bank of England, Mark Carney, has unveiled the design of the new £20 note featuring the artist JMW Turner. The new note will be launched on 20 February 2020 and will join the...

16th October 2019

National Living/Minimum Wage entitlement

A reminder that the current National Minimum Wage (NMW) and National Living Wage (NLW) rates came into effect on 1 April 2019. The NLW is the minimum hourly rate that must be paid to those aged 25 or...

16th October 2019

Who is eligible for 10% tax on business sale?

Entrepreneurs' Relief (ER) can be valuable relief when selling your business, your shares in a trading company or your interest in a trading partnership. Where ER is available, Capital Gains Tax...

16th October 2019

Tax if you return to the UK

There used to be a form that had to be completed advising HMRC if you were returning to live in the UK from another country. Whilst this form was abolished some time ago, there are still various...

16th October 2019

Provisional date announced for Autumn Budget 2019

The Chancellor of the Exchequer, Sajid Javid, has announced that he is planning to hold his first Autumn Budget 2019 on Wednesday, 6 November 2019. However, this date is based on the UK leaving the EU...

16th October 2019

Gifts in anticipation of marriage

There is a special exemption from Inheritance Tax for cash gifts made on or shortly before the date that the relevant wedding or civil partnership ceremony takes place. The amount of tax relief...

16th October 2019

Definition of a Welsh taxpayer

The start of the 2019-20 tax year marked a fundamental change to the way Income Tax is calculated for people who live in Wales. The new Welsh rates of Income Tax (WRIT) is payable on the non-savings...

16th October 2019

Definition of a Scottish taxpayer

The Scottish rate of Income Tax (SRIT) commenced on 6 April 2016 and is administered by HMRC on behalf of the Scottish Government. The SRIT is payable on the non-savings and non-dividend income of...

16th October 2019

Simplified import procedures

HMRC has automatically registered many businesses to use simplified import procedures should the UK leave the EU without a deal on 31 October 2019. The scheme, called the Transitional Simplified...

16th October 2019