Claiming back tax overpaid on savings
The R40 form 'Claim for repayment of tax deducted from savings and investments' is available on HMRC’s website. Banks and building societies usually deduct 20% tax on savings interest. Individuals who have paid too much tax on interest can use the Read more..
New legislation for coding out debts
The legislation that will enable a significant increase in the coding threshold for taxpayers to have an underpayment collected via their tax code, comes into effect on 1 November 2014. From 2015-16 the coding out limit will increase from £3,000 to Read more..
Changes to the intestacy rules
The intestacy rules that govern how assets are divided if someone dies without making a will changed from 1 October 2014. The changes do not affect people who die with less than £250,000 in assets but for those that leave more the changes are very Read more..
Unpaid parental leave to be extended to cover children up to the age of 18
The draft Maternity and Parental Leave etc. (Amendment) Regulations 2014 have been laid before Parliament and they will change the provisions on unpaid parental leave.
At the moment, eligible parents are entitled to take up to 18 weeks of unpaid Read more..
Consultation announced on hybrid mismatches
The government has announced a clamp-down on the decade-long use of ‘hybrid mismatches’, a technique commonly used by multinational companies to significantly reduce their tax bills. In simple terms, hybrid mismatch planning schemes exploit Read more..