Tag: tax relief
Calls to simplify patent tax break scheme deterring innovative SMEs
Only 5% of tax breaks designed to encourage businesses to file more patents are given to SMEs, new findings reveal. Red tape and uncertainty outweigh benefits. Law firm Mathys & Squire calls for simplification to encourage more to file patents. …
Pension update as HMRC threatens huge 70% tax on lump sum
Savers who took out a lump sum to re-invest after this date could face a nasty surprise from the taxman. …
Brits issued fresh warning over pension contributions ‘myth’
In most automatic enrolment schemes, you’ll make contributions based on your total earnings between £6,240 and £50,270 a year before tax. …
‘Attractive’ savings tool over 50s can use to boost returns by up to 40%
The tax relief boost can make a “huge difference” to returns. …
Brits hit with ‘cardinal sin’ warning over common pensions mistake
Financial experts have warned of a “worrying pattern” when it comes to saving for retirement. …
People working from home could face surprise repayment bill from HMRC
HMRC is getting stricter after rules for tax relief changed …
Surge in pensioners using £10k ‘recycling loophole’ to avoid tax
One provider is seeing a growing number of retirees apparently paying back into their own pension to save tax. …
Savers lose £50,000 from tax-free pension allowance due to 2 little known rules
The amount you can put away in your pension could be slashed by £50,000 due to 2 little known rules. …
Workers urged to give up extra payment to boost pension before April 6
There’s just days left to boost your pension savings before the new tax year starts. …
Thousands of homeworkers could be owed ‘at least’ £62 tax refund from HMRC
Working from home became the norm in the UK during the Covid pandemic of 2020 but extra expenses often fall on the employee. …
