News

Families who are incorrectly filling in homemade Wills could be disinheriting their children. So-called ‘Do-It-Yourself’ kits have grown in popularity over recent years, namely because of the reduced cost. Tempted by the price of just £20 in some cases, an increasing number of people are choosing to consolidate their final wishes using a DIY kit, or are at least attempting to. ...

IHT

HMRC have announced that they have stopped thousands of taxpayers from receiving scam text messages ‘with 90 percent of the most convincing texts now halted before they reach their phones’. HMRC’s press release states: ‘Fraudsters alleging to be from HMRC send text messages to unsuspecting members of the public. In these messages they will make false claims, such as suggestin ...

Tax

With the end of the tax year looming there is still time to save tax for 2017/18. We have set out some points you may want to consider. • Make full use of your ISA allowance - ISAs can offer a useful tax free way to save, whether this is for your children's future, a first home or another purpose. Individuals may invest up to a limit of £20,000 for the 2017/18 tax year. A save ...

Tax

The implementation of Tax-Free Childcare, the new government scheme to help working parents with the cost of childcare, is being rolled out to eligible parents in stages. The scheme first made its debut in April 2017 and although there have been initial systems problems, HMRC’s aim is to have the scheme open to all eligible parents by 14 February 2018. Application is made onli ...

Tax

We had two Budgets in 2017 and the Spring Statement is planned for Tuesday 13 March. The Chancellor Philip Hammond has previously stated that at the Spring Statement he will respond to the Office for Budget Responsibility forecast, consider longer-term tax challenges and start consultations on how they can be addressed. The government has the option to make immediate changes to ...

We’re extremely proud to have been awarded the Best Companies 1 Star Accreditation for Workplace Engagement. Alongside this, the Best Companies survey demonstrated that our employees have “very good” levels of workplace engagement. What is the Best Companies Survey? The Best Companies Survey is a set of 70 academically designed questions based on their ‘8 factors of workplace ...

Beneficiaries paid 11% more Inheritance Tax in November 2017 than in November 2016. HM Revenue & Customs collected £445M, compared with £400M in the previous November. Have you checked the level of Inheritance Tax that is likely to be paid on your Estate? Why not contact Ward Williams Financial Services Ltd on 01932 830664 or by email on wwfs@wardwilliams.co.uk to find ou ...

IHT

There is a little known tax perk which cuts the cost of financial advice by up to £310 a year. It is in respect of legislation that came in to force last November in respect of pension advice vouchers. Employees can swap up to £500 of their pay each tax year for a pension advice voucher through salary sacrifice. The voucher can then be used to obtain financial advice about any ...

The government has announced proposals to extend pensions auto enrolment to include younger workers and to amend the way in which contributions are calculated. According to the press release: ‘The review’s recommendations, which will now be progressed and legislated for where necessary, will see: automatic enrolment duties continuing to apply to all employers, regardless o ...

The government have announced a delay to the roll out of tax free childcare which was expected to be fully implemented by the end of 2017. From 24 November 2017 the service is available to parents whose youngest child is under 6 or who has their 6th birthday on that day. Parents can apply online through the childcare service which can be accessed via the Childcare Choices websi ...

Tax