New £20 note unveiled
The Governor of the Bank of England, Mark Carney, has unveiled the design of the new £20 note which features the artist JMW Turner. The new note will be launched on 20 February 2020 and will join the current £5 and £10 notes in being printed on polymer, a thin flexible plastic. The new plastic £20 note will also include a number of new security features including two windows and a two-colour foil, making it very difficult to counterfeit.
Once the new £20 note is launched, the process of withdrawing the current paper £20 notes from circulation will begin. The paper £20 notes will remain as legal tender until they are withdrawn. The exact date that the paper notes are to be withdrawn has not yet been announced but at least 6 months notice will be given in advance. It has already been confirmed that a new £50 note will be issued in 2021, featuring Alan Turing, completing the updating of all current Bank of England banknotes.
Posted by Cassey Nixon on
28th October 2019
Income excluded from property business
HMRC publishes a list of income streams that are excluded from a UK property businesses’ taxable income. The list includes fishing concerns, hotels and guest houses, tied premises, caravan sites, lodgers and tenants in your own home, extra services to tenants and letting surplus trade accommodation. In most cases the income from these activities will […]
When National Insurance Credits can be claimed
National Insurance credits can help qualifying applicants to fill gaps in their National Insurance record. This can assist taxpayers to build up the amount of qualifying years of National Insurance contributions and thus increase the amount of benefits a person is entitled to receive, for example, the State Pension. National Insurance credits are available in […]