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HMRC clamps down on 'trail commissions'

The insurance industry is set to start deducting tax from so-called 'trail commissions' charged to investors or their financial advisers after HM Revenue & Customs (HMRC) rules that the payments are taxable. 'Trail commission' refers to payments made by product providers as a part of the incentives they offer individuals to invest in their assets. It was previously common practice for advisers to agree with their clients to take receipt of such payments in return for offering investment advice to them.
 
 

Charities warned over fraudulent collections

In the majority of cases, charitable appeals and collections are genuine; but charities should be aware of the possibility of fraud and put in place appropriate safeguards to reduce the likelihood of it occurring. Fraudulent collections and appeals can take many forms, but all have the common intent to exploit the generosity of the giving public, and to divert funds from genuine charities and causes.

BH football team scores treble winner

Burgess Hodgson’s football team is enjoying a treble celebration after winning the Canterbury Charity Cup, the Faversham Charity Cup final and gaining promotion by securing the Canterbury and District League Division 3 title – with five games in hand. The most recent win – 1-0 over the team from the Plough – was a hard-fought victory. “It was arguably our toughest game of the season and a game of few chances,” said captain Ben Houston.

Tax Credit warning for renewals

Tax Credit customers are being reminded by HM Revenue & Customs (HMRC) that they must renew claims by 31 July – or their payments might stop. HMRC will start sending Tax Credit renewal packs to about 5.8 million people from this week until the end of June. They are urged to act as soon as they receive a renewal pack. More than 3.7 million claimants renewed by the deadline last year, 90 per cent of those who were required to renew their claim.
 
TAX PENSIONS
HMRC clamps down on 'trail commissions'
Tax Credit warning for renewals
Equitable Life compensation payments “tax free”
Changes to pension contribution rules welcomed
BUDGET EMPLOYMENT
Budget 2013 - detailed summary
Budget for an aspiration nation
HMRC targets fashion houses exploiting interns
Don’t be late with PAYE payments
LEGAL PRACTICE
Banks found guilty over mis-selling to SMEs
Beware of giving free advice!
BH football team scores treble winner
Rugby club success