Newsletters

Spring 2018 Newsletter

Click Here to Read the Spring 2018 Newsletter in Full. Paying Dividends Class 2 National Insurance: Not Quite the End of the Road New Rates and Bands on the Way Getting Sporty? Self Employed and Want a Mortgage? National Minimum Wage in the Social Care Sector National Minimum Wage: New Rates From 1 April 2018 …

Work: a Whole New World

Uber, TaskRabbit, Deliveroo – names fast becoming familiar that would have been complete unknowns only a few years ago. The world of work is changing. In the gig economy, a ‘flexible’ labour market sees workers on short term contracts or treated as freelancers, paid a piece rate for each ‘gig,’ rather than a daily or …

When a Spouse Dies

Individual Savings Accounts (ISAs) Money experts have estimated that because the small print about ISAs isn’t widely known, almost nine in ten savers could be missing out when a spouse or civil partner dies. On the death of an ISA-holding spouse or civil partner, it’s possible to claim an extra ISA allowance. This means that …

National Minimum Wage: New Rates From 1 April 2018

In the biggest rise in National Minimum Wage (NMW) rates for those under 25 for a decade, new rates apply from 1 April 2018. 18-20 and 21-24 year-olds see increases of 4.7% and 5.4% respectively. There is also a 4.4% increase in the National Living Wage (NLW) for those aged 25 and over. NMW and …

Tax on Acquiring Property in Wales

‘Tax is changing in Wales’ advise HMRC: and indeed it is. From April, the Welsh Government and the National Assembly for Wales take on responsibility for some taxes paid in Wales, and property acquisition is one major area of change. Stamp Duty Land Tax (SDLT) is replaced by Land Transaction Tax (LTT) in Wales from …

Paying Dividends

Dividend payment is a primary vehicle to extract cash from owner-managed businesses, but it’s an area coming increasingly under HMRC’s spotlight. Mistakes in procedure can have expensive tax consequences – so how do you get it right? Legal position Company law (s830 Companies Act 2006) says that a company is only entitled to make distributions …

Self Employed and Want a Mortgage?

If you’re one of the UK’s nearly five million self-employed people, you may know how tricky it can be to get a mortgage. ‘All borrowers are jumping through more hoops than ever, but the self-employed will have to leap far higher,’ said a spokesperson at analyst, Moneyfacts. Unlike employees with a steady salary stream, the …

Class 2 National Insurance: Not Quite the End of the Road

The government has announced that plans to abolish Class 2 National Insurance Contributions (NIC) are being put off for 12 months. Class 2 payments will now continue until 6 April 2019, rather than ending on 6 April 2018. The delay will enable the government to look again at what abolishing Class 2 will mean for …

Winter 2017 Newsletter

Click Here to Read the Winter 2017 Newsletter in Full. To sign up to receive the RRL Newsletter straight to your inbox, please click here. If you would like to find out more about any of the topics covered in our newsletter and how we at RRL can assist, please contact us.  This publication has been …