Aga Khan Economic Planning Board
The Economic Planning Board (EPB) is a volunteer organisation under the Ismaili Council for the United Kingdom (UK). It was established to keep the economic status of the Jamat under review. It aims to improve the economic well-being of the Jamat via case management and support in the areas of employment and personal finance. The EPB has also launched a number of business alliances in industries from hospitality to pharmaceuticals.
Government to regulate umbrella companies
9 January 2022
The government plans to introduce legislation to regulate umbrella companies to protect workers and clamp down on tax avoidance.
HMRC warns on tax avoidance via umbrella companies
9 January 2022
HMRC has updated its guidance for companies using temporary labour to reduce the risk of using an umbrella company that uses tax avoidance schemes.
Individual liability when companies evade tax
9 January 2022
HMRC has issued guidance on what action to take if a taxpayer has been sent a notice stating that they may be jointly and severally liable for the relevant tax liability of a company that has been involved in tax avoidance or evasion.
Small business loan defaults rise substantially
9 January 2022
The Bank of England Credit Conditions Survey shows that the majority of banks, 44% reported an increase in loan defaults by small companies in Q3 of this year.
Law to protect pensions from scammers
9 January 2022
The Department for Work and Pensions (DWP) has published new regulations that will give trustees the power to stop suspicious transfers.
Taxi drivers face tax checks to renew licence
9 January 2022
Changes to the licensing rules for taxi drivers will add a requirement to check their tax compliance before issuing new licenses in a bid to tackle tax evasion from 2022.
Cyber security threat to increase
9 January 2022
Two thirds (66%) of UK business leaders expect the threat from cyber criminals to increase over the next 12 months, according to the latest PwC cyber security survey.
Bank of England raises base rate to 0.25%
9 January 2022
The Bank of England has raised the bank base rate for the first time in three years to 0.25%, despite concerns over omicron variant.
The remittance basis and deemed domicile rules
9 January 2022
For non doms it is important to consider the levels of the remittance basis charge and when the application of the deemed domicile rules means that a claim for the remittance basis is no longer possible, warn tax advisers.
Covid-19 grants must be included on tax returns
9 January 2022
HMRC is reminding self-assessment customers to declare any Covid-19 grant payments on their 2020/21 tax return, including SEISS claims which are taxable.
Inheritance tax and residence nil rate band
9 January 2022
With the residence nil rate band (RNRB) to remain fixed until April 2026, now is the time for taxpayers to review their existing wills and consider inheritance tax (IHT) opportunities to take advantage of this valuable exemption.
Statutory sick pay rebate scheme reinstated
9 January 2022
As increasing numbers of Covid-19 cases means more workers taking time off work, the government has reintroduced the statutory sick pay rebate scheme (SSPRS).
