HMT News – July 2015

Every month, HMT publish a newsletter that will keep you updated on latest business information, event news and provide you with helpful hints and tips.

Summer Budget 2015 – Summary
George Osborne presented the first Budget of this Parliament on Wednesday 8 July 2015. Our tax team has produced a Summer Budget summary for you to fully understand the changes. Read summary here

Bear traps on company sale – Capital Gain Tax
In her article for the summer edition of The Business Magazine, our Tax Director Holly Bedford explains what are the main tax traps when selling a business. Read article here

Claiming the marriage allowance
The Low Incomes Tax Reform Group published updated their guidance on how to apply for the new transferable personal allowance, known as the marriage allowance, for married couples and civil partners which came into effect on 6 April 2015. Read full story

HMRC checking employees have paid the correct amount of tax on their pay
HMRC have started to check that people have paid the right amount of tax in 2014/15, a process they refer to as the annual End of Year Reconciliation process. Read full story

Statistics show employment rise in 2015
The Office for National Statistics (ONS) has released figures showing that UK employment rates were up between February and April compared to the three months to January 2015. Read full story

Phishing emails HMRC examples
HMRC have updated their list of examples of emails, letters, text messages and bogus calls used by ‘scammers’ and fraudsters to get taxpayers personal information. Read full story

Annual Investment Allowance certainty
The Chancellor announced that Annual Investment Allowance will be set permanently at £200,000 from 1 January 2016 providing certainty for businesses. Read full story