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Autumn Budget 2017 - Individual Savings Account and Child Trust Funds annual subscription limits

Autumn Budget 2017 - Individual Savings Account (ISA) and Child Trust Funds annual subscription limits The ISA subscription limit for 2018/19 will remain unchanged at £20,000. The annual ...
/news/autumn-budget-2017---individual-savings-account-and-child-trust-funds-annual-subscription-limits.htm

Reforms to the taxation of non-domiciles

Reforms to the taxation of non-domiciles The existing inheritance tax (IHT) deemed domicile provisions for individuals are to be aligned with the proposed changes for income tax and capital gai...
/news/reforms-to-the-taxation-of-non-domiciles.htm

Autumn Budget 2018 - Savings - allowance and tax rate

The 0% band for the starting rate for savings income will be retained at its current level of £5,000 for 2019/20 and will not be up-rated in line with inflation. For 2019/20, the persona...
/news/autumn-budget-2018---savings---allowance-and-tax-rate.htm

Spring Budget 2017 - Individuals

Individuals Personal allowance and income tax threshold The personal allowance for 2017/18 is set at £11,500 (£11,000 in 2016-17), and the basic rate limit will be increased to ...
/news/spring-budget-2017---individuals.htm

Autumn Budget 2017 - Partnership taxation: proposals to clarify tax treatment

Autumn Budget 2017 - Partnership taxation: proposals to clarify tax treatment In September 2017, HMRC published a policy paper setting out several measures designed to provide additional clarit...
/news/autumn-budget-2017---partnership-taxation-proposals-to-clarify-tax-treatment.htm

Budget Update - Savings and Investments

Budget Update - Savings and Investments   Enterprise Investment Scheme Income tax relief for investors is to be proposed to be enhanced as follows: Rate of income tax relief: 2...
/news/budget-update-savings-and-investments.htm

Tax Efficient Investments

Tax Efficient Investments   Most allowances for tax efficient investments are fixed for each tax year and cannot be carried over to the next year if not used. If you have money to inve...
/news/tax-efficient-investments.htm

Individuals

Individuals Personal allowances  Immediate changes    2014/15 2015/16 Born after 5 April...
/news/individuals.htm

Tax-efficient savings for children

Tax-efficient savings for children There are a number of ways to save or invest for children - some accounts are tax-efficient but rigid, others are often flexible but liable to tax. Inter...
/news/tax-efficient-savings-for-children.htm

Property rental income split between spouses...

Q. I am an employee and am liable to income tax at the higher rate. I also receive income from a rental property that I own. My wife does not work. If I instruct the tenants to pay the rent directl...
/news/i-am-an-employee-and-am-liable-to-income-tax-at-the-higher-rate.htm

CGT (Capital Gains Tax) Payment within 30 days of the sale - coming for Property owners?

The Association of Taxation Technicians (ATT) is warning that owners of second homes and buy-to-let (BTL) landlords may face a much shorter period in which to pay any capital gains tax (CGT) due on...
/news/cgt-capital-gains-tax--payment-within-30-days-of-the-sale---coming-for-property-owners-.htm

HMRC to join preferred creditor list

From 6 April 2020, the government will change the rules so that when a business enters insolvency, more of the taxes paid in good faith by its employees and customers and temporarily held in trust ...
/news/hmrc-to-join-preferred-creditor-list.htm

Rental property in joint names

Q. My husband and I own a rental property in joint names. We would like to transfer ownership of the property to our twelve-year-old son. Can minors own property in the UK?  A. In this...
/news/rental-property-in-joint-names.htm

Employee share schemes: simplification of the rules

Employee share schemes: simplification of the rules Following recommendations from the Office of Tax Simplification (OTS), a number of changes are being made to the rules for employment-related...
/news/employee-share-schemes-simplification-of-the-rules.htm

Loans to Participators Trap - (Overdrawn Directors' Loan Accounts)

Loans to Participators Trap - (Overdrawn Directors' Loan Accounts) The 2013 Budget announcements included a brief outline of how the law will be changed to tax loans taken out of owner-mana...
/news/loans-to-participators-trap---overdrawn-directors-loan-accounts.htm
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