Did you know… in the next decade there will be 821 Million more people in the world. That’s 12 times the population of the UK! How will your family grow? Did you know… in the next decade there will be 1.2 Million additional 80-year olds in the UK. That’s the…
HMRC have recently issued a warning about bogus phone calls or e-mails from people pretending to be from HMRC. These messages can claim that you are due a tax refund or rebate, demand immediate payment for an unpaid tax bill, inform you that HMRC are filing a lawsuit against you…
In his 2016 Budget the Chancellor announced that the capital allowances (CA) tax break for low emission company cars will continue, but subject to tougher limitations. How should you plan vehicle purchases to maximize tax relief? Capital allowances and cars If you buy a car which is used for work…
A hike in tax rates will affect dividends you receive on or after 6 April 2016. Working out how much the extra tax will-be is tricky enough, but when and how will you be expected to pay it? New tax rules – recap As a shareholder you’ll be aware by…
The 2016 Budget saw an increase in the tax charge applied to close the company loans and overdrawn directors’ loan accounts arising after 6 April 2016. What will this mean for you? Temporary Tax Imposing a charge on loans made to participators (which includes overdrawn directors’ loan accounts) in close companies…
If you have money to invest you could go for one of the government’s tax advantaged schemes like ISAs. These have proved popular, but could the changes to scheme rules make a pension a better home for your cash? Tax-advantaged investments Tax-advantaged investments come in all shapes and sizes. Some…
Following the restriction of tax relief for mortgage interest and the 3% increase in Stamp Duty Land Tax all is not doom and gloom for buy to let landlords. Following on from the consultation this summer the draft Finance Bill 2016 includes the legislation to reintroduce tax relief for the…
One of the anti-avoidance measures announced in the Autumn Statement on 25 November was to introduce legislation to counter the distribution of income accumulated in a company to the shareholders in a capital form, potentially subject to the 10% capital gains tax rate with the benefit of entrepreneurs’ relief. This…
One of the controversial measures included in the draft Finance Bill 2016 was the proposed restriction of the deduction for travel and subsistence expenses incurred by certain workers caught by the IR35 rules. This proposed change was consulted on during summer 2015 and, if enacted, will significantly restrict the tax…
If you have already taken care of Auto Enrolment or have no employees please do not read any further. Assuming you are still reading, it has recently been announced that one of the major Government backed Auto Enrolment pension providers is to introduce set up charges of £500 from…