Well it’s that time of year again; we have rounded up the more significant parts of the news just for you:
Small Business, Enterprise and Employment Bill (England and Wales)
- Tougher penalties for firms flouting the minimum wage and abusing zero hour contracts;
- Adjudicators will be appointed for disputes between pub owners (breweries) and publicans;
- Preventions on allowing public sector workers to return to similar posts shortly (within 12 months) after receiving generous redundancy packages.
- A register of beneficial ownership will outline who owns and controls British companies.
Pension Tax Bill (England, Wales, Scotland and Northern Ireland)
- People over 55 with defined contribution payment schemes will be able to withdraw from their savings as they wish. Income tax may be payable and scheme rules will apply.
- Existing restrictions on accessing entitlements will be lifted.
National Insurance Contributions Bill (England, Wales, Scotland and Northern Ireland)
- A simpler way to collect national insurance contributions from the self employed will be implemented.
- HMRC will receive further powers to enforce payments where tax avoidance has taken place.
- Anti-avoidance rules will come into place to determine whether schemes are seeking to avoid or minimise national insurance contributions.
Childcare Payments Bill (England, Wales, Scotland and Northern Ireland)
- In the Autumn of 2015, all parents with children under the age of 12 will be eligible to a new tax-free childcare subsidy worth up to £2,000 a year per child provided they are in paid work and earn under £150,000 a year.
