Will I get a state pension? Individuals who reach #StatePension Age (SPA) on or after 6 April 2016 need to have accrued 35 complete years of National Insurance Contributions (NIC) to receive the full state pension. To receive any UK state retirement pension, you need at least ten complete NIC years. You can check how
Read MoreDo you pay tax on Interest on savings? All interest you receive is taxable unless it is from an ISA, but banks and building societies no longer deduct tax from interest paid to individuals. For most taxpayers the rate of tax payable on that interest is 0%, so no tax is in fact due. This
Read MoreWhere you are required to work at home, your employer can pay you a tax-free allowance of £6 per week (or £26 per month). For periods before 6 April 2020, the tax-free allowance was £4 per week (or £18 per month). This allowance covers the additional costs incurred by using your home as a workplace,
Read MoreWe all heard Mr Johnson say we had the deal; now we are feeling the after-effects the deal with issues in sending and receiving outside of the UK. The UK is now treated as a third country to the EU, which means the VAT rules on imports and exports have changed for all goods (of
Read MoreWhen do pay Stamp Duty? All property in the UK is subject to a land tax which normally paid by your solicitor once the completion has occurred and Land Registry has been notified. How much you pay in Stamp Duty is all dependent on how you buy the property and whether your buying as an
Read MoreAt the start of the coronavirus pandemic, the UK Government gave individuals and businesses the option to defer, until 2021, payments of Income Tax due by 31 July 2020 and VAT due in the period 20 March to 30 June 2020. In both cases, you could pay the tax or VAT by the original due
Read MoreREPORT RELEASE: Merranti Accounting has just released their free latest report on the schemes being offered by the Government. A 12-page document that will list and explain in detail on all the potential benefits that are being offered by the Government. Get your copy here
Read MoreIn addition to the various coronavirus business loan schemes, the government has allowed businesses to build up tax debt. Payment of the VAT due in the period March 20 to June 30 could be postponed until 31 March 2021. Unincorporated businesses and individuals could delay paying their self-assessment tax due on 31 July until 31
Read MoreEU Brexit VAT Changes: The UK left the EU on 31 January 2020 but all trading arrangements, including VAT, are held in suspension until the end of the transition period on 31 December 2020. Whatever deal is finally agreed between the EU and the UK government, the EU Brexit VAT Changes rules for UK traders
Read MoreEmployers must now operate two parallel systems of Statutory Sick Pay (SSP) for their employees: COVID-19 related SSP and SSP for all other health related matters that prevent employees from working. In both cases, the employee must earn at least £120 per week and have informed their employer of the illness. In general, SSP is
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