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Streets Chartered Accountants considers potential tax and pension changes in the Autumn Budget and more in its latest monthly news roundup.
Five key areas of possible changes to Pensions in the Autumn Budget
Little has been said by Labour on what the budget will contain. We are led to believe there will be change and upheaval, barring a significant leak we won’t know though until 30th October. There are plenty of rumours around pensions and in the King’s speech, a commitment to a “pensions review”. What this means in the longer term, time will tell although there are five key areas which may be looked at within this review and as part of the budget in October. Read More.
Changes to Tips & Service Charge Rules
As of 1st October 2024, new legislation will change the way businesses manage tips. Here’s what you need to know to ensure compliance and avoid penalties. The new law mandates that all qualifying tips – whether received via cash or card – must be fairly distributed to staff. You can no longer withhold tips and the allocation must follow clear, objective criteria. The government has issued a statutory code of practice to guide this process.
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