Marriage Allowance

Mar 08, 2017

Although the financial impact of this allowance is relatively low, it is surprising that there has not been more uptake of the Marriage Allowance since its inception 6 April 2015. In fact, taxpayers…

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The budget crystal ball

Mar 08, 2017

Today Philip Hammond will present his first budget to parliament; forecasting any changes he may be considering to the UK tax system is perhaps unwise.

If he remains committed to austerity,…

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Making Tax Digital

Mar 01, 2017

We have now seen the response of HMRC to representations made by accountants and other interested parties to their Making Tax Digital (MTD) agenda.

A reminder that MTD will result in the gradual…

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Personal tax and National Insurance changes for 2017-18

Mar 01, 2017

In no particular order changes already announced include:

  • The personal tax allowance will increase to £11,500 and the higher rate threshold will rise to £45,000.
  • The annual…

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Buy to let property owners - time to start planning for tax changes

Mar 01, 2017

Property business owners, particularly buy-to-let landlords, have been hit with a number of quite dramatic changes in their tax status. One of the most draconian is the gradual disallowance of tax relief…

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The UK is to get its first Small Business Commissioner

Mar 01, 2017

A search is underway to recruit the UK’s first Small Business Commissioner.

The commissioner will be a high profile role supporting small businesses in payment disputes with their larger customers.

  • The…

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Tax Diary March/April 2017

Mar 01, 2017

1 March 2017 - Due date for Corporation Tax due for the year ended 31 May 2016.

2 March 2017 – Self Assessment tax for 2015/16 paid after this date will incur a 5% surcharge.

19 March…

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Tax free pensions advice

Feb 28, 2017

People planning their retirement will be able to withdraw up to £1,500 from their pension pots tax-free to pay for financial advice, under recent plans unveiled by the government.

 

The…

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Buy-to-let and the changing tax landscape

Feb 27, 2017

Buy-to-let property owners have been singled out in recent budgets for some quite draconian tax changes.

One of the most pervasive starts 6 April 2017. From this date, tax relief for the cost…

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