WE ARE HIRING A…TAX MANAGER

We are currently looking for a professional and talented Tax Manager to be part of our growing & dynamic firm. Ideally, the candidate is someone who is immediately available to start a new and exciting role.

This position will be most suited to someone who thrives under challenge, is delivery focused, enjoys accountability and has a ‘can-do’ attitude.

You will be responsible for a portfolio of personal tax clients and assisting Partners with ad-hoc tax work.

Visit our website here: www.nhllp.com/about-us/recruitment

Nunn Hayward Sponsors Gerrards Cross Bowling Club (GXBC)

Nunn Hayward are proud to be sponsoring the Gerrards Cross Bowling Club for 2017.

(Picture L-R: Commonwealth Games Champion and Member John Mc Guinness, Members Keith Young and Richard Reid)

On Saturday 13th May 2017 they held an Open Day where they were delighted with the amount of people that turned up and had a go on the rink.

“This is the first time that Nunn Hayward have sponsored a bowling club and will be hoping to get the staff from the office down to the green for a go later in the year”.

GXBC has been established for over 100 years ago, and prides itself on being a friendly club. They have an excellent 6 rink green located in Maltmans Lane, off Bull Lane, behind the tennis club in a beautiful setting.

Their diverse membership of around 100 playing members and 25 social members, ranges in age from the very young to the very old with standards from international level to “happy to get it on the right rink”.   For more information on the club go to http://www.gxbc.co.uk

Nunn Hayward – http://www.nhllp.com or 01753 888211

 

 

Foreign lorry levy results in tax windfall

24 Oct 2014

A new levy on foreign HGV vehicles coming into the UK is likely to raise twice as much in tax revenues as initially expected, according to Treasury figures.

Foreign lorry companies have to pay anywhere between £1.70 and £10 a day to use UK roads, and failure to do so could result in a £300 roadside fine.

Since it was introduced in April the levy has made some £23.4m for the Treasury, which is already £3m more than it expected for the whole 2014/15 tax year.

Nearly one million levies have been bought so far, with the countries buying the most levies being Poland, Romania, Spain, Hungary and the Czech Republic.

The Treasury is not publishing details on whether the revenue raised will be spent specifically on road improvement. Nonetheless, the levy was widely welcomed by UK haulage companies, particularly as British lorries often have to pay equivalent taxes to drive on roads abroad, which their competitors can use for free.

Not all businesses are so positive about the tax however, with some commenters complaining that the costs of the levy are being passed on to UK exporters and consumers.

Labour leader promises NHS with no tax increase

22 Sep 2014

Ed Miliband has made a pledge to protect the NHS from its funding crisis without raising taxes ‘for everyday working people’.

He spoke on the BBC’s Andrew Marr show. While reinforcing his promise to bring back the 50p top tier income tax rate, and a levy on homes with a value over £2 million, he said there would be no increase in national insurance.

‘I am deeply worried about the NHS in the next parliament,’ he said. ‘We are certainly going to make sure the NHS does not lose money and we want to do more than that. We will be saying more about that between now and the election’.

If elected to power next year, Labour also promise to strengthen GP services and repeal the Health and Social Care Act. Mr Miliband said: ‘We are going to put the right values back in the NHS’.

Smartphone cheque pay-in system gets Government approval

27 Jun 2014

Legislation is being planned to enable people to pay in cheques via their smartphones, rather than having to go in person to a bank.

Under a new system currently being trialled, customers will be able to photograph a cheque using a smartphone and then send it electronically. The new technology will allow cheques to be cleared in two days, rather than the current six, and banks believe that the system could actually be more secure than paying in physically.

During consultation the idea has been ‘broadly welcomed’ and will now be included in planned new legislation.

Barclays – who have run a successful trial of the system – claim that up to £300m of cheques in the UK are never paid in each year, in part due to the inconvenience for people of having to get to a bank during opening hours. Spokesman Steven Roberts said: “This is an opportunity to move cheques into the 21st Century, to reduce costs and make banking easier and more convenient for customers.

“We look forward to working closely with other banks, industry groups and the Treasury to make this a universal nationwide service as quickly as possible, so that all customers with a cheque to deposit can do so through their phone, tablet, branch or self-service device, regardless of who they bank with.”

Bank customers will still have the option of paying in paper cheques at bank branches, cash machines, post offices and by post.

Details of when the new imaging system will be available are yet to be finalised.

Employers should be able to offer staff retirement guidance ‘without being sued’

20 Jun 2014

Employers should be able to offer staff general guidance about their retirement planning without fear of being sued, the insurance company Zurich has said.

The suggestion has been made as a response to the Treasury consultation on the provision of retirement guidance, which forms part of the wide-ranging pension reforms announced in the March Budget.

The Government has committed to offering defined contribution pension savers access to ‘free, impartial, face-to-face advice’ alongside the increased freedom and control over their retirement funds.

The current consensus is that this guidance should be provided by a combination of not-for-profit organisations, such as The Pensions Advisory Service, the Money Advice Service and Citizen’s Advice.

However, Zurich proposes that employers should also be allowed to give guidance to workers about their saving plans, without fear that they can be held legally responsible for negative consequences in future years.

Gary Shaughnessy, of Zurich UK Life, said: ‘People need to make important decisions from day one of their retirement savings journey. For example, they need to understand the level of savings they need in old age, and what type of savings vehicles are best suited to their needs.

‘We believe that employers can play an important role in helping savers plan for their old age adequately. But at present this may be limited because of concerns that they could be sued, even many years after they have offered financial guidance. The Government should give employers safe harbours on their liability. This will encourage employers to play their part in helping savers reach better decisions.’

However, the lack of expertise among employers would mean that there would be a cost implication for companies in providing retirement guidance.

The Government is expected to release more information about its ‘guidance guarantee’ in the next few months.

Tax investigators collect record amount this year

27 May 2014

£23.9 billion was collected through tax investigations over the past twelve months, claims HM Revenue and Customs (HMRC).

This is an increase of £3.2 billion on the previous twelve-month period, and £9 billion on the period before that. HMRC said it was almost £1 billion above the target set by Chancellor George Osborne.

According to official figures, over £8 billion of the haul came from large businesses. A further £1 billion came from criminals and £2.7 billion from tackling avoidance schemes.

‘The Government supports the hard-working, honest majority of taxpayers that play by the rules, and is determined to tackle the minority that seek to avoid paying the taxes they owe,’ said Exchequer Secretary to the Treasury, David Gauke.

He continued: ‘We set HMRC ambitious targets to increase its yield and the figures published today demonstrate that HMRC is successfully meeting these challenges’.

HMRC said it aims to secure £100 billion between May 2010 and March 2015 through investigations into unpaid tax.

New act strengthens intellectual property rights

23 May 2014

The new Intellectual Property Act received Royal Assent on 15 May, better protecting the rights of UK businesses.

New powers now allow the UK to implement the Unified Patent Court Agreement, which is the central part of introducing a single patent across most EU countries. It is thought this could lead to collective business savings of up to £40 million per year.

Protection for designers is also included, removing red tape and uncertainties for businesses when protecting their designs. Online services will be launched to help with the management of intellectual property.

Lord Younger, Minister for Intellectual Property, said: ‘Continued investment in intellectual property is vital to all businesses, as it contributes £16 billion to the UK economy each year. It is essential that we continue to work hard to create the right environment for them to flourish so we can benefit from their creative designs, inventions and ideas.

‘I am confident that this Act will further strengthen our world-class Intellectual Property system – from research to market – and to help businesses of all sizes continue to thrive’.

The key policies set out in the Act include: providing new protections for pre-publication research; the introduction of a criminal sanction for intentional copying of registered designs; measures to help businesses assess the strength of their case before going through legal proceedings; expansion of existing patent opinions services; and an exemption to the Freedom of Information Act to better protect pre-publication research.

The measures are expected to come gradually into force from October 2014 and later into 2015.

Annual house price growth hits double digits

02 May 2014

Annual house price growth in the UK has hit double digits for the first time in four years, according to Nationwide. In the year to April, prices rose by 10.9%, the first annual double-digit growth since April 2010 and the fastest rate since June 2007.

Robert Gardner, Nationwide’s chief economist said: “After several months of moderation, the pace of house price growth picked up in April, with prices rising by 1.2% during the month.”

There remains a significant gap between the capital  and the rest of the UK. House prices in London are now about 20% higher than they were before the financial crisis of 2007-08, while in the rest of the country prices are still around 2% lower than their pre-crisis peak.

Some commenters expect prices to moderate again over the next few months, following the Mortgage Market Review by the Financial Conduct Authority, which imposes tougher rules on lending and is likely to mean that more people are refused mortgages.

However, the deputy Governor of the Bank of England Jon Cunliffe has warned that it would be “dangerous to ignore the momentum that has built up in the UK housing market “, and that “a mutually reinforcing combination of strong demand, weak supply and expectations of a rising market could lead to a period of sustained and very powerful pressure on house prices” which could “take us quickly to pre-crisis rates.”

Bank of England to oversee hacking

25 Apr 2014

The computer systems of 20 major banks are to be targeted by hired hackers to assess their defences against cyber-crime.

Ethical hackers, also known as ‘white hats’, will be asked by the Bank of England to access the computer systems of the banks and financial leaders, after the ‘Heartbleed’ bug was discovered to be one of the biggest ever security flaws since the internet has existed.

Those on the list to be tested reportedly include the Royal Bank of Scotland as well as the London Stock Exchange. The Bank of England has said that online security is an important consideration for all financial institutions.

Scenarios will involve replication of the tactics used by known online terrorists and cyber criminals. In 2013, almost two dozen financial institutions in the UK took part in an exercise to simulate their response to an online terrorist attack. The simulation was known as Waking Shark II.

Reports indicate that a pilot of the initiative has already taken place. Companies are encouraged to remember that they must report any cyber-crime to law enforcement officials as well as their own regulators.