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Easily avoid a life insurance tax trap
Personal TaxLife insurance policies generally pay out a premium in the event of the policyholder’s death. However, recently published figures from HMRC suggest that many of them are falling into an easily-avoided tax trap. What’s going on?
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Government unpicks the pension triple lock
Personal TaxPensioners had been in line for a bumper increase in the state pension from April 2022 under the triple lock rules. However, the government has now confirmed this will not go ahead. What’s going on?
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Practical guide: discounts and incentives - the VAT implications
VATSome businesses are concerned they will lose customers after the pandemic unless they offer discounts and credits as an incentive to trade. How is VAT dealt with here, and what happens with bad debts?
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Capital allowances - optimising tax efficiency
Business TaxTax relief for buying equipment used in a business is given as capital allowances. The directors or the company can claim the capital allowances depending on who buys and owns the equipment. But which is the most tax efficient option?
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NI rates hiked - how much more will workers pay?
Personal TaxEarlier today (7 September) Boris Johnson announced that NI and dividend tax rates will be hiked to help fund social care, pay for coronavirus support measures and clear the NHS backlog. Who will be affected and by how much?
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Calculating notice and redundancy pay for furloughed employees
Employment lawThe Coronavirus Job Retention Scheme (CJRS) is due to end on 30 September 2021. If there is then a need to make furloughed employees redundant, how must employers calculate their statutory notice and redundancy pay?