Since 6 April 2016, higher rate capital gains have been charged at 20 per cent, down from 28 per cent and basic rate gains have a 10 per cent levy, down from 18 per cent. Capital Gains Tax is applied on the profit you make when an asset you sell increases in value. For example, […]READ MORE »
The Government has introduced a plethora of measures since 2013 to discourage high value UK residential properties from being held indirectly, e.g. through a company, in order to minimise or avoid tax. As of 1 April 2016, the lower valuation limit fell to £500,000, meaning more residential homes held in companies or partnerships will be […]READ MORE »
National Insurance has undergone a plethora of changes in recent years that have kept employers on their toes. Businesses that employ apprentices saw a change in the law back in April 2015 when the Government introduced a zero per cent rate of Secondary National Insurance Contributions (NIC) for employers. This applied to apprentices aged below […]READ MORE »
A hike in Stamp Duty Land Tax (SDLT) is due to take a bigger bite out of individuals and families purchasing properties on or after 1 April 2016. Whilst the reforms are yet to be finalised, the Treasury has published a consultation paper which sheds more light on the changes. From April, buy-to-let landlords and […]READ MORE »
The recent passing of the Finance Bill 2016 (a vehicle for renewing taxes, delivering new proposals and maintaining administration) saw many of the measures unveiled by the chancellor come to fruition. To separate fact from fiction, we’ve put together a handy breakdown of the most relevant tax-related reforms that are likely to affect our clients: […]READ MORE »
We all want to live comfortably during retirement, yet the type of lifestyle you’ll experience is determined by the decisions you make early on in life. To ensure a relaxing and somewhat care-free retirement, here’s what you need to consider in order to bridge any gaps between what you want, have and will need. Can […]READ MORE »
Although by no means impossible, it’s fair to say that organising a mortgage when you’re self-employed can be a bit of a headache. Sharon Duckworth, director of Key Mortgage Advice, answers your questions and lays out the options available. How will my self-employment mortgage be calculated? Just like with a regular mortgage, how a […]READ MORE »
Millions of older savers have been given the opportunity to boost their retirement income by topping up their state pension. The scheme, known as Class 3A, enables voluntary top ups of up to £25 per week (£1,300 per year) for those already in receipt of a state pension or due to receive one before 6 […]READ MORE »
Recent statistics from HMRC have revealed a 23 per cent increase in SME R&D tax relief claims, with the total number during the last year rising from 13,140 to 16,160. Despite the growth, HMRC estimate that this figure is still less than 10 per cent of all eligible SMEs. The ability to claim R&D tax […]READ MORE »
One of the key announcements from the summer Budget was George Osborne’s complete overhaul of the dividend taxation system. From April 2016, dividend tax credits will be scrapped and replaced by new rates of taxation for all limited company shareholders. Every taxpayer will be entitled to a new £5,000 tax-free dividend allowance, which is in […]READ MORE »
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