The Government has announced that making tax digital for income tax (MTD ITSA) for the self-employed and landlords will be delayed until April 2026. The new timetable provides that a person will be required to use MTD for IT if they are self-employed or a landlord: from April 2026, if their annual business or property income is more than £50,000; and from April 2027, if th ...

In our last edition we reported on the reforms set out in the Charities Act 2022. More information is now known on when these reforms will take effect, with the following changes expected to come into force this autumn: Paying trustees for providing goods to the charity At present charities can only pay their trustees for goods provided as part of a related service. Followin ...

Workers have saved more than £114 billion into their pension pots since pensions automatic enrolment was implemented ten years ago, according to data published by the Department for Work and Pensions (DWP). The data showed that more than 10.7 million employees were paying into a workplace pension in 2021. The proportion of young people saving into a pension has more than doubl ...

The Department for Work and Pensions has published its annual rate increases for 2023/2024. These changes will take effect in April 2023.  The rate for statutory maternity, paternity, adoption, shared parental, and parental bereavement pay will increase to £172.48 per week (previously £156.66). The rate for statutory sick pay will increase to £109.40 per week (previously £99 ...

In recent months both CCEW and the Fundraising Regulator have sought to promote the opportunities available to charities from the use of cryptocurrency and non-fungible tokens (NFTs) whilst at the same time highlighting some of the risks involved. Cryptocurrency is a form of unregulated digital currency which uses technology to record the transaction history and for making paym ...

To address some of the concern over increasing energy prices the Government has announced an Energy Bill Relief Scheme. This will apply to all non-domestic customers, including businesses, the voluntary sector and public sector organisations, and will provide a discount on wholesale gas and electricity prices that is equivalent to the Energy Price Guarantee that has been put in ...

Almost six in ten UK adults are struggling to keep up with their bills, according to new research from the Financial Conduct Authority (FCA). The research estimates that 7.8 million people were struggling to keep up with their bills - an increase of around 2.5 million people since 2020. In addition, 60% of UK adults are estimated to be finding it a 'heavy burden' or 'somewhat ...

The level of trust placed in the charity sector remains high, despite there being an overall decline in the level of trust being placed generally in public bodies, according to a report recently published by CCEW. The charity sector is placed second in the list of the most trusted parts of society, with only doctors being ranked higher. The report does show though that support ...

Just a few months ago many charities would have been hopeful that with restrictions related to the COVID pandemic being relaxed things would return to normal and they could start to look to the future with optimism. Sadly though in 2022 the challenges for the sector keep on coming. At the start of the year the crisis in Ukraine saw many organisations looking to help with the in ...

Buy to let landlords are being contacted by HMRC in its latest nudge campaign, which identifies people who may not be declaring their full rental income. These nudge letters are widely targeted at individuals or businesses based on information received, primarily from other governmental departments such as, banks or, the tenancy deposit scheme. Landlords in England are limite ...