Pay Less Tax Newsletter 2016 / 17 Winter Edition
Read the latest issue of our Pay Less Tax Newsletter 2016 / 17 Winter Edition
Apprenticeship Levy
The Apprenticeship Levy is being introduced from 6 April 2017 and will be payable by large employers. The Levy will be 0.5% of the employer’s pay bill but there is an annual allowance of £15,000.The allowance will be given on a pro-rata basis throughout the tax year.
Pay Less Tax – 2016 Autumn Newsletter
In this newsletter, we examine the following changes: The Savings Starting Rate and the Personal Savings Allowance Explained NEW Investors Relief – In the Budget 2016 a new relief was introduced, Investors Relief (IR) to encourage passive investors to invest in trading businesses. Annual Tax on Enveloped Dwellings (ATED) It’s all change for long-term resident…
The ‘Investors Relief’ has been introduced to encourage passive investors to invest in trading businesses
In the Budget 2016 a new relief was introduced, Investors Relief (IR) to encourage passive investors to invest in trading businesses. The investor subscribes for qualifying shares and when these shares are disposed of the gain in value of the shares attracts a preferential 10% rate of Capital Gains Tax (CGT) up to a lifetime limit of £10 million.
HMRC outline Making Tax Digital plans
HMRC have issued a series of consultation documents outlining further plans for the government’s Making Tax Digital (MTD) initiative.
P11D deadline approaching – 6 July 2016
The forms P11D, and where appropriate P9D, which report details of expenses and benefits provided to employees and directors for the year ended 5 April 2016, are due for submission to HMRC by 6 July 2016. Employees pay tax on benefits provided as shown on the P11D, either via a PAYE coding notice adjustment or…
2016 Budget Summary
The 2016 budget was a tumultuous event for Chancellor George Osbourne. Our 2016 Budget Guide is a roundup of the implications of some of the measures announced, some of the changes taking effect from 6th April and some areas where we can help you to save tax! Download our guide which includes details on: Personal Tax Allowances Personal…
From April 2016, there will be an increase in tax for most limited company owners
From April 2016, the current dividend tax regime changes significantly which will result in an increase in tax for most limited company owners. The Government believes the way dividends are taxed currently is ambiguous and complex. Designed at a time when Corporation Tax was much higher than now, the Chancellor believes that many people now…
Budget 2013 The Sibbalds Summary
With this afternoon’s budget changes being leaked on Twitter by The London Evening Standard a good hour before Chancellor George Osborne’s budget speech, it was certainly a day of controversy for the UK Government. George Osborne started the proceedings by saying the budget is “for hard-working people” and despite the progress which the government has…
Tax Dodgers named by HMRC
Yesterday HMRC published a list of 9 small businesses which have been charged penalties for not declaring all of their income to the tax man. The idea of this “naming and shaming” is that it will deter other business people from trying to avoid paying their tax. Indeed it may scare some into paying more…