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Pension reform affects employers and individuals

The single-tier State Pension will be brought in on 6 April 2016, and will affect people who reach State Pension Age from that point onwards.

Businesses 'could face fines' for late payment

Businesses that fail to pay their suppliers on time could incur a penalty under plans reportedly being considered by Business Secretary Vince Cable.

Tax avoidance in the spotlight

With the topic of tax avoidance continuing to make the headlines, EU leaders have agreed to support the automatic exchange of information between the tax authorities of member states, in a bid to increase transparency within the tax system.

A quarter of workers 'losing track' of pension funds

Nearly a quarter of UK adults have lost track of at least one of their pensions, adding to the pressures facing the pension system, according to Age UK.

Small businesses 'generate more for local economies'

A new report has suggested that a significantly greater proportion of the money spent by local authorities with small firms is re-spent within the local economy, when compared with larger firms in the same area.

Red tape moratorium to be extended to more businesses

An initiative that exempts small businesses from new regulations looks set to be extended under new plans announced by the Government.

Real Time Information rules extended again for small businesses

HM Revenue & Customs (HMRC) has announced that the temporary relaxation of its Real Time Information (RTI) reporting rules will be extended until April 2014.

ESSENTIAL TAX DATES FOR JULY

Keep an eye on 31st July 2013, the following are key:

HMRC offers 'second chance' for outstanding tax returns

HMRC has launched a campaign aimed at taxpayers who have failed to submit their self assessment tax returns for previous years. This allows taxpayers a time frame in which to submit their outstanding tax returns, which could reduce the charges they incur

Further Details Released on the new Business Bank

The Government recently launched the first phase of the new Business Bank, releasing £300m of funds for small and medium-sized businesses.