How to tax interest paid by public service pensions schemes
[ad_1] HMRC has provided guidance on the tax treatment of interest paid under the public service pensions remedy. If this article is supporting your professional development, it can count towards your verifiable CPD hours. Use the pop up at the bottom right corner of your screen to add reading this article as an activity to […]
Public Accounts Committee report criticises MTD programme
[ad_1] HMRC has lost sight of needing to put taxpayers at the heart of changes to the tax system, warns PAC. The House of Commons Public Accounts Committee (PAC) released its report Progress with Making Tax Digital on 24 November. The report expresses concerns that the additional burdens of Making Tax Digital (MTD) will make […]
Public service pensions remedy guidance published
[ad_1] HMRC has released a suite of guidance for dealing with public service pensions that are affected by the McCloud remedy, including a tool for calculating the adjustment and making a claim. Changes were made to public service pensions in 2015 by the government. Most public sector workers were moved into reformed career average pension […]
Public sector finances return to red
[ad_1] February fiscal deficit hits £17bn, while the cumulative deficit for 11 months of £132bn doesn’t include backdated public sector pay awards. The monthly public sector finances for February 2023 released on Tuesday 21 March 2023 reported a provisional deficit for the month of £17bn, which is a return to red after a surplus of […]