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Still time to utilise annual tax-free allowance

By P&A Knowledge Team · 12 February 2020 · Posted in Capital Gains Tax

We would like to remind our readers that there is still time to use the annual exemption for Capital Gains Tax (CGT). In the current 2019-20 tax year, this amounts to £12,000. This means that there is no CGT to pay on the first £12,000 of CONTINUE READING

Scottish Income Tax rates announced 2020-21

By P&A Knowledge Team · 12 February 2020 ·

Posted in Income Tax

Public finance minister Kate Forbes delivered her first Budget statement to the Scottish Parliament on 6 February 2020. This followed the shock resignation of finance minister, Derek Mackay.

This is the first time that Scotland has held a Budget

Breathing space to help those in debt

By P&A Knowledge Team · 12 February 2020 ·

Posted in General

HM Treasury has confirmed that the new 'breathing space' scheme to help those with problem debts will become operational next year. The scheme will provide legal protections from creditor action while those affected will receive professional

Draft regulations to increase the National Minimum Wage published

By P&A Knowledge Team · 6 February 2020 ·

Posted in Employment Law

The draft National Minimum Wage (Amendment) Regulations 2020 have been laid before Parliament and are due to come into force on 1 April 2020. The regulations will increase the various rates of the National Minimum Wage (NMW) and National Living Wage

Statutory payment rates 2020/21 confirmed