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Almost two-thirds of over-50s will ‘retire later than expected’, survey suggests August 15, 2018

A survey carried out by insurance firm Aviva has found that 63% of over-50s in work are planning to retire later than they previously intended. Of the 2,497 people polled, 38% of those aged over 50 have ‘insufficient retirement savings’, while 40% cited the rising cost of living as a reason for extending their working
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HMRC urges taxpayers to declare offshore assets August 15, 2018

HMRC is urging UK taxpayers to declare foreign income or profits on offshore assets ahead of the 30 September 2018 Requirement to Correct (RTC) disclosure deadline. The RTC legislation requires taxpayers to inform HMRC about any offshore tax liabilities in relation to income tax, capital gains tax (CGT) or inheritance tax (IHT). Renting out a
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CIOT welcomes MTD for VAT ‘soft landing’ concession for taxpayers August 15, 2018

The Chartered Institute of Taxation (CIOT) has welcomed the legal status given to the Making Tax Digital for VAT (MTD for VAT) ‘soft landing’ period, which is intended to help taxpayers who may find it difficult to comply with the IT demands associated with the initiative. The MTD for VAT regulations are set to take
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IoD states UK businesses ‘left in the dark’ in regard to Brexit plans August 8, 2018

The Institute of Directors (IoD) has stated that UK businesses have been ‘left in the dark’ in regard to the government’s Brexit plans. An IoD survey of 800 business leaders revealed that less than a third of firms have conducted Brexit contingency planning. According to the survey, half of businesses do not intend to create
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Official data reveals ‘record amount’ of inheritance tax collected by HMRC August 8, 2018

Official figures have revealed that HMRC collected a ‘record amount’ of inheritance tax (IHT) in the 2017/18 tax year. IHT receipts totalled £5.2 billion in 2017/18, the data showed – a rise of 8% when compared to the amount collected in 2016/17. It also revealed that the total number of UK estates liable to IHT
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