Quarterly tax returns – You're kidding right? In winter 2015 the government announced it’s ‘Making tax digital – roadmap’ promising to transform HMRC into “One of the most digitally-advanced tax administrations in the world”. The business community reacted somewhat dubiously to this news. It seems unbelievable that an organisation that still prefers to [...]
Landlords hit hard in 2016 budget When the 2016 Budget came out it was clear to see that the chancellor was on the warpath against landlords. In a two-pronged attack the budget imposes a higher rate of stamp duty on second home owners, as well as limiting tax relief on mortgage interest. As [...]
Budget 2016 - Small Business comes out on top Small Business rates cut! The big headline announcement in this years budget is the cut to business rates by the extension of the small business rates relief scheme. Currently the scheme means that all properties with a rateable value of < £6,000 don't pay [...]
Dividend changes from April 2016 Many business owners have heard there is a change coming to dividend tax, but what is the actual impact? The Autumn Statement produced an unexpected headline for small business owners: the favourable tax situation for dividends is being severely diminished. We explore exactly what difference this will [...]
Summer Budget 2015 The Chancellor has presented his Summer Budget to Parliament, the first for a majority Conservative government since November 1996 - here's a summary of what was announced: Individuals A new national living wage will be introduced for all workers aged over 25, starting at £7.20 an hour from April [...]
The Chancellor has presented his Budget to Parliament. Here's a summary of what he announced: Tax and employment Personal tax-free allowance will be increased to £10,600 in April 2015, £10,800 in April 2016, and to £11,000 in April 2017. The higher rate band will also increase by £315 in 2016-17, and by £600 in 2017-18 [...]
Registration opens for Married Couples allowance The Government has fulfilled its pledge to recognise marriage in the tax system by opening registration for its Married Couples allowance on 20 February. Full story: http://ow.ly/Juhoc Summary The new Married Couples allowance (not to be confused with the Married Couples allowance for those born before 6/4/1935) essentially allows [...]
