News

Autumn Budget Statement 2016

Philip Hammond presented his first and last Autumn Statement on 23 November 2016.   Our summary of the Autumn Statement  provides details of  all the key announcements and tax changes.

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Budget summary – 16 March 2016

Having previously announced increases in dividend tax rates for 2016/17, the Chancellor had some good news for small business owners in his Budget Speech. Business rates relief has been expanded and  made permanent. In addition, £1,000 allowances are introduced for...

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Autumn Statement 2015

The highlights of George Osborne's speech on 25 November 2015 was the government's climbdown on tax credits and the increase in stamp duty land tax for buy-to-lets and second home purchases. The main tax changes introduced by the Chancellor can be found in our Autumn...

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No More Tax Relief For Landlords

From April 2017, the amount of income tax relief landlords can claim on residential property finance costs will be reduced.  The income tax relief on  mortgage interest will be restricted to 20%. This change will be introduced gradually over a 4 year period. Wear and...

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All Change For Limited Companies

The new dividend allowance will represent a significant tax increase for owners of small companies who have for some years been able to extract profits from their business with a tax efficient mixture of salary and dividends. Dividend Example In 2015/16 Paul takes a...

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Personal Tax

Personal Tax

Personal Allowance The Chancellor announced that the personal allowance will be increased to £11,000 for 2016/17 and to £11,200 for 2017/18.  The government plans to raise the allowance to £12,500 by the end of this parliament. Personal Savings Allowance From 6 April...

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The Spring Budget 2015

The Spring Budget 2015

One of George Osborne's first acts as Chancellor was to establish the  Office of Tax Simplification (OTS). That organisation has spent the last five years identifying needless complexity in the tax system and recommending changes to make dealing with tax less taxing....

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Workplace pensions and auto-enrolment

Workplace pensions and auto-enrolment

  The law on workplace pensions has changed. Every employer with at least one member of staff now has new duties, including putting those who meet certain criteria into a workplace pension scheme and contributing towards it. This is called automatic enrolment....

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