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MPs call for stamp duty threshold to rise to £500,000

A group of Conservative MPs has called for the stamp duty threshold to be raised to £500,000, together with an increase in the higher rate income tax threshold. Stamp duty is currently payable at an initial rate of 1% on residential properties worth more than...

View our 2013 Autumn Statement summary

Chancellor George Osborne presented a generally positive economic outlook in his 2013 Autumn Statement. The Chancellor commented that the Government’s austerity measures were working, but emphasized the fact that ‘the job is not yet done’. Measures were announced that...

New VAT rules ‘could treble reporting requirements’

Plans to introduce a standardised VAT return for all businesses across the EU could significantly increase reporting obligations for UK firms, some experts have warned. The European Commission has outlined new proposals to introduce a standard VAT declaration for all...

Expansion – is your business ready?

Recent research shows that micro businesses have grown in number by 40% since 2000, but less than a quarter of these businesses have managed to grow in size. However, around 80% of SME owner managers would reportedly like to expand their business, so this low growth...

An inspector calls… coping with an HMRC investigation

HM Revenue and Customs (HMRC) has stepped up its compliance activity, as it continues in its efforts to claw back extra tax revenue. Being the subject of an enquiry or investigation can be a worrying experience, so what can you expect if you suddenly find yourself on...

UK recovery ‘has taken hold’

The UK economy is on the mend, with the recovery officially having ‘taken hold’, according to the Bank of England. In its latest quarterly inflation report, the Bank stated, ‘In the United Kingdom, recovery has finally taken hold. The economy is growing robustly as...

JOLLIFFE’S FIRST APPRENTICE IS ONBOARD

Jolliffe Consultancy Ltd is pleased to announce the arrival of its first apprentice. James Phillips joined the company in October 2013 on a Business Administration Apprenticeship and will work with Jolliffe’s over the next year, gaining valuable hands-on experience of...

Payday lenders face tougher rules

There will be ‘tougher requirements’ for payday lenders and ‘stronger protection’ for consumers when the Financial Conduct Authority (FCA) takes over regulation of the consumer credit industry in April 2014. The proposed regulatory regime is...

Auto-enrollment opt-out rate ‘lower than expected’

Fewer people than expected have chosen to leave the Government’s new pension auto-enrollment scheme, new figures suggest. According to a study from the National Employment Savings Trust (NEST), just 9% of workers opted out after being automatically enrolled into...