Young people targeted with phone tax scams

HMRC is warning young adults who may have less experience of the tax system to be especially vigilant about tax refund scams via smartphone, as fraudsters ramp up activity after the self assessment season. Photo by Adrianna Calvo from Pexels During April and May, fraudsters regularly blitz taxpayers with refund scams by email or text pretending to be HMRC. Criminals do this to coincide with legitimate rebates being processed by HMRC. Read the whole article on Accountancy Daily. ...
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Lifetime allowance for pensions increases to £1.05m

The standard lifetime allowance for pensions has increased by £25,000 in line with CPI inflation to £1,055,000 for the new tax year from 6 April . The 2.4% rise, based on September 2018 CPI, brings the lifetime allowance to £1,055,000, up from £1,030,000 from 6 April 2019 for the 2019/20 tax year and is the lifetime limit for pension savings liable to standard tax rates before a higher tax charge is made. Read more on Accountancy Daily ...
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