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25 November 2014

Latest guidance from HMRC on statutory residence test

Have you recently completed your 2012/13 self-assessment tax return on the basis that you were not resident in the UK? If so, it is likely that you will receive a letter from HMRC outlining the new statutory residence test (SRT) which was introduced in April last year. The letter highlights...

19 November 2014

Consumer spending growth set to slow markedly after 2015

Our latest UK Economic Outlook, which we launch three times a year, was released this month and has some interesting findings for the UK. Below is a summary of the report, which can be downloaded at the end of this article. Consumer spending growth has been boosted over the past...

09 November 2014

Holiday from hell for many businesses following holiday pay ruling

John Harding, pay expert and partner at PwC looks at the implications of the new holiday pay ruling, what it means in practice and how it may affect start-ups and small to medium-sized businesses. Under EU law, workers are entitled to four weeks' holiday pay a year but there were...

03 November 2014

HMRC’s Personal tax summaries – greater transparency for workers

What are they? The Government has announced it is sending annual personal tax summaries to over 24 million people across the UK. The statements will show people how much income tax and national insurance contributions (NIC) they have paid over the 2013/14 tax year, and how this is calculated, together...

31 October 2014

Tax deadlines looming for hundreds of thousands of US expats in the UK

UK tax payers filing paper returns must do so by today, and there's only two months to go for those filing online. But for the hundreds of thousands of American taxpayers living in the UK there are other deadlines fast approaching - which could easily be overlooked. New Year's Eve...

15 October 2014

Six degrees of generation - succession planning in family firms

By Sian Steele, partner and PwC's UK family business leader There’s an old saying in business that if you fail to plan, you plan to fail. Nowhere is this truism truer than for the family firm as it approaches the moment when the business passes from one generation to the...

13 October 2014

Calling budding entrepreneurs - have your say on tax for a chance to win £20,000

Calling all budding entrepreneurs. PwC has launched a major competition for students in its quest for fresh thinking and debate on UK tax reform. The competition offers £20,000 for the best essay on how the tax system should change to improve job prospects and drive the UK economy. So if...

06 October 2014

Where there’s a will there’s a way – new intestacy rules from October 2014

On 1 October 2014, significant changes to existing intestacy rules came into force. While there are increasing entitlements for surviving spouses and civil partners, the changes highlight the importance of making a will to ensure your wishes are carried out. When a person dies without leaving a valid will, they...

03 October 2014

The death of the pensions death tax

By Adam Waller, private client tax partner at PwC in Manchester At the Conservative party conference in Birmingham this week, George Osborne announced plans to abolish the 55% tax that applies to untouched defined contribution pension pots by people aged 75 or over, and to pensions from which money has...

26 September 2014

Ask the expert: how to make yourself at home in the property market

By Gordon Singer, tax parter at PwC in Leeds I recently wrote an article for our local business magazine following a question one of its readers posed about investing in the property market. With the residential maket undoubtedly hotting up across the country I thought it would be useful to...