George Hay Blog

Lifetime ISA withdrawals penalty temporarily reduced
May 5, 2020

Lifetime ISA withdrawals penalty temporarily reduced

The Government has confirmed that the penalty for early Lifetime ISA withdrawals has been reduced, in response to the Coronavirus pandemic. With thousands of individuals on lower incomes as a result, many are needing to access savings to support themselves. Unfortunately, those with money invested in a Lifetime ISA (LISA)
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Home working and tax relief on expenses
May 1, 2020

Home working and tax relief on expenses

In recent years, home working has become increasingly popular. Since the Coronavirus outbreak, it has effectively become the norm for millions of people. If you ‘require’ your employees to work from home, they can – and have always been able to – claim for the increased costs associated with doing so
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2020 Budget: Key announcements from Rishi Sunak’s first Budget
March 11, 2020

2020 Budget: Key announcements from Rishi Sunak’s first Budget

Rishi Sunak delivered his first 2020 Budget on Wednesday 11th March. This came only weeks after he took over the role of Chancellor from Sajid Javid. Raring and ready to ‘get things done’, Mr. Sunak promised a speech that would deliver ‘security for today’, that would ‘deliver on change’ and
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Automatic enrolment duties; Failure to comply has consequences
March 9, 2020

Automatic enrolment duties; Failure to comply has consequences

The Pensions Regulator (TPR) continues to issue warnings, to employers, about the consequences of failing to comply with automatic enrolment duties. In a recent court case, a pre-school nursery and its director were ordered to pay over £8,000 in penalties. The court issued the penalties for non-compliance and deception. The
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Capital Gains Tax payment terms change in April 2020
March 9, 2020

Capital Gains Tax payment terms change in April 2020

On 6 April 2020, Capital Gains Tax (CGT) payment terms will change. If you are selling a residential property, you will be required to settle any charges within a new 30-day period. Taxpayers will not settle charges via the annual self-assessment process but will report the gains on their annual
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Probate sub-registries closing doors throughout the UK
February 24, 2020

Probate sub-registries closing doors throughout the UK

In a push to modernise the legal system, the Government are closing the doors of probate sub-registries throughout the UK. Probate sub-registries closing down On 31 January alone, a total of 18 probate sub-registries closed down including Peterborough, Norwich and Lincoln. Increasingly, a centralised national courts and tribunals function will
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The importance of due diligence when buying a business
January 27, 2020

The importance of due diligence when buying a business

Buying a business is not a decision that should be taken lightly. Additionally, the importance of conducting thorough due diligence, before any formal agreement is entered into, should not be underestimated. Whether you are acquiring the shares in a company or the trading operations will determine the approach you take.
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