Mullen Stoker - Durham Accountant, Business Advice, Tax Advice, Tax Returns, Durham, Uk

Posts Tagged ‘Tax Credit’

UK economy is braced for interesting times as Brexit phoney war end

Saturday, November 26th, 2016

Theresa May and Philip Hammond

The four months since the Brexit vote have been something of a phoney war. Life for most has trundled on just as before. The shops have been full. Employment has continued to rise. Britain is still the low pay, low productivity country it always was. If someone had left in early June and returned today without access to the news, they would never know there had been a referendum.

The release of the growth figures for the third quarter of 2016 on Thursday will reinforce the sense that not much has changed.

In August, the Bank of England expected the economy to almost stall but it has had second thoughts in the light of more upbeat data. The consensus in the City is for growth of 0.3-0.4%, down on the second quarter but hardly a disaster.

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Private contractor Concentrix to lose HMRC tax credit contract six months early

Tuesday, November 15th, 2016

14-tax-credits-rex.jpg

Staff will not be losing their jobs

The private contractor accused of incorrectly stopping the tax credits of thousands of low income families will lose its contract six months early, staff at the firm have been told.

HMRC had already announced that Concentrix’s contract would not be renewed when it expired in 2017 – after a spate of stories that suggesting the tax authority and its contractor had stopped tax credits on the basis of “flimsy” evidence.

A staff bulletin said discussions were continuing about the remaining period of the contract, adding that Belfast-based staff will automatically transfer to HMRC.

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