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Autumn Budget 2017 - Individuals Personal allowance and income tax threshold

Autumn Budget 2017 - Individuals Personal allowance and income tax threshold The personal allowance for 2018/19 is set at £11,850 (£11,500 in 2017/18), and the basic rate limit will...
/news/autumn-budget-2017---individuals-personal-allowance-and-income-tax-threshold.htm

Autumn Budget 2018 - Personal allowance and income tax threshold

The personal allowance for 2019/20 is set at £12,500 (£11,850 in 2018/19) The basic rate limit will be increased to £37,500 (£34,500 in 2018-19). As a result, the hi...
/news/autumn-budget-2018---personal-allowance-and-income-tax-threshold.htm

HMRC reaffirm income tax charge on winding up

HMRC reaffirm income tax charge on winding up HMRC have published Spotlight 47, which provides guidance on tax avoidance schemes that try to avoid the income tax charge on distributions when a ...
/news/hmrc-reaffirm-income-tax-charge-on-winding-up.htm

Use gift Aid to save tax

HMRC have recently highlighted that charities are collectively missing out on some £600m extra funding because a third of donations made do not add Gift Aid when they could have don...
/news/use-gift-aid-to-save-tax.htm

MTD (Making Tax Digital) update – When will this be mandatory?

HMRC's pilot of Making Tax Digital (MTD) for income tax has been extended and is now able to accept quarterly updates from individual landlords with simple tax affairs. We as agents can also si...
/news/mtd-making-tax-digital-update--when-will-this-be-mandatory.htm

Autumn Budget 2018 - tax treatment of expenses for unpaid officeholders

The government will legislate in Finance Bill 2019/20, so that expenses paid or reimbursed to unpaid office-holders are exempt from income tax when incurred because of their voluntary duties. This ...
/news/autumn-budget-2018---tax-treatment-of-expenses-for-unpaid-officeholders.htm

Personal Allowance Transfer

I have a part time job and I earn about £8,000 a year. As my earnings are less than the tax-free personal allowance, can I transfer the unused amount to my husband? Since April 2015, a sp...
/news/personal-allowance-transfer.htm

Termination payments consultation – eg. redundancy payment

Termination payments consultation – eg. redundancy payment Following a recent consultation, the Office for Tax Simplification (OTS) is currently consulting on proposed changes to the tax ...
/news/termination-payments-consultation--eg-redundancy-payment.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

New Tax Rules on Dividends

Do you know how the new government rules will impact your business and dividend payments?   We have put together a brief summary of the government’s latest updates – T...
/news/new-tax-rules-on-dividends-271.htm

Ending enhanced capital allowances for energy and water efficient plant and machinery

Ending enhanced capital allowances for energy and water efficient plant and machinery The lists of energy efficient and environmentally beneficial technologies and products which are eligible for...
/news/ending-enhanced-capital-allowances-for-energy-and-water-efficient-plant-and-machinery.htm

Spring Budget 2017 - Businesses

Businesses Making Tax Digital for Business The provisions for the government's Making Tax Digital project will be legislated for in Finance Bill 2017. However, the mandatory start date ...
/news/spring-budget-2017---businesses.htm

Simple assessment

Simple assessment   HMRC are to be given new powers which will enable them to make income tax or capital gains tax assessments without the taxpayer first being required to complete a s...
/news/simple-assessment.htm

State Pension: Is the state pension lump sum taxable?

State Pension: Is the state pension lump sum taxable? The lump sum is taxed as income. In simple terms, the rate of tax that applies to the lump sum will be the highest rate that applies to you...
/news/state-pension-is-the-state-pension-lump-sum-taxable.htm

Transferring unused Personal Tax Allowance

Q. I am an employee and pay basic rate tax under PAYE each month. My wife works part-time and earns £10,000 per annum and does not pay any tax. Can I benefit from her unused personal tax allo...
/news/transferring-unused-personal-tax-allowance.htm
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