Hicks blog

Businesses will require software for digital tax accounts

Businesses will need to submit their tax and financial information quarterly using software that’s compatible with HMRC’s systems.

Charities unaware of reporting Obligations

Many charities are unaware of their reporting obligations with 1 in 5 having submitted the wrong documents, according to research by the Charity Commission.

SMEs in profit at 2007 levels

The number of small businesses that reported profits over the last 12 months has returned to 2007 levels, according to the government’s Small Business Survey.

Pension freedom barriers to be removed

The government has introduced a range of measures aimed at removing barriers that may stop people from being able to access their pensions.

Lack of flexible working hampers employers

Employers may be missing out on the best skilled workers due to not offering flexible working.

Early pension exit fees capped

The Financial Conduct Authority (FCA) will be given the power to cap “excessive” early exit fees on pension pots.

Digital tax accounts to replace annual tax return

HMRC has launched a digital accounts system for businesses and individual taxpayers.

The new system will allow people to see their tax details and make payments at any time during the year

Finance Bill 2016 passes through parliament

The Finance Bill 2016 passed through parliament in December 2015. This bill puts into law many of the measures announced by the Chancellor in his Budget and Autumn Statement speeches.

New state pension: a guide

The new state pension comes into effect from 6 April 2016 but research has found that many savers don’t understand the changes.