If you have a number of properties and the portfolio is run as a business this may well be a sound idea, however, a 3% Annual Tax on Enveloped Dwellings (ATED) will be charged in addition to the usual tax on profits in certain circumstances.
The zero rate on the first tranche of dividend income was confirmed as reducing to £2,000 from April 2018. The reduction will result in an extra £1143 for an additional rate taxpayer with a basic rate taxpayer having an extra £225 to pay.
We’re really pleased to welcome Joanne Gregory back as our Audit Manager. Joanne, who is now a Chartered Certified Accountant, originally joined Sibbalds as a trainee accountant and left to gain a wider variety of audit-related experience and work with different firms of varying sizes and across many sectors and industries.
The 2017 Autumn Budget announced the delayed abolition of Class 2 NICs until April 2019.
As employers now have a duty to make pension contributions for their employees it may be worth employees considering salary sacrifice to make their contributions to the pension.
It will be possible from 29th November 2017 for a claim for the Marriage Allowance to be made in respect of a deceased spouse or civil partner and for that claim to be backdated for up to four years.