Pensions Advice Allowance
A new Pensions Advice Allowance will come into force from April 2017. The allowance will allow those nearing retirement to take up to £1,500 out of their pension pots tax-free to put towards the cost
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Tax codes to use from 6 April 2017
The P9X form is used to notify employers of what tax codes to use for employers. The form has been updated with tax codes to use from 6 April 2017. The basic personal allowance for the tax year
Furnished holiday lettings
The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for tax purposes. Individuals, partnerships, trustees and companies who
Tax credits renewal reminders
The child tax credit has been designed to help lower income families with children. Credits are available to families with low to moderate income. Child tax credit is paid directly to the main carer
Intermediary providing services to the public sector
From April 2017, the rules for individuals providing services to the public sector via an intermediary such as a personal service company will change. This change will shift the responsibility for
Late filing notice from HMRC
The Low Income Tax Reform Group (LITRG) was established in 1998 to improve the policy and processes of the tax, tax credits and associated welfare systems for the benefit of those on low incomes. A
Cash basis scheme changes
The cash basis scheme helps sole traders and other unincorporated businesses benefit from a simpler way of managing their financial affairs. The scheme is currently open to businesses with a turnover
Claiming the Annual Investment Allowance
The Annual Investment Allowance (AIA) was permanently set at £200,000 for all qualifying expenditure on or after 1 January 2016. The prior limit had been £500,000 but was set to revert to its original
Tax relief changes for buy-to-let landlords
It is now only a couple of months until the changes to tax relief for buy-to-let landlords start to take effect. From April 2017, tax relief on mortgage costs is to be gradually restricted to the
Private Residence Relief
One of the most often used and valuable of the Capital Gains Tax (CGT) reliefs is on the sale of the family home. CGT is a tax on the profit made from selling certain assets such as property, shares