by yasiradnan94 | Apr 7, 2023 | Accounting, Advice, FAQs, News, Tax planning
The Chancellor announced the relaxation of three different pension allowances to encourage older taxpayers to remain an active part of the workforce or to return to employment if they have retired early. The pensions annual allowance provides a cap on the...
by yasiradnan94 | Mar 22, 2023 | Accounting, News, Tax planning
The ‘super deduction’ capital allowances, which provide companies with a deduction of 130% of the cost of new plant and machinery, will end for expenditure incurred after 31 March 2023 as scheduled. The Chancellor has proposed a new system of full...
by yasiradnan94 | Mar 18, 2023 | Accounting, Advice, Tax planning
Do you know whether your national insurance contributions (NIC) record is complete and correct? You can check the NIC record over your entire working life on your online personal tax account (www.gov.uk/personal-tax-account). This will also provide an estimate of the...
by yasiradnan94 | Feb 23, 2023 | Accounting, Advice, Tax planning
It is widely anticipated that the budget next month may result in big changes to CGT. The Office of TaxSimplification (OTS) has previously produced a report on suggested changes to capital gains tax for individuals and trusts. Amongst the changes they proposed were...
by yasiradnan94 | Dec 29, 2022 | Property, Tax planning
The annual tax on enveloped dwellings (ATED) applies where a residential property worth over £500,000 is held by a company and is not commercially let out or used for some other qualifying purpose. This tax currently starts at £3,800 per year but that starting rate...
by yasiradnan94 | Dec 26, 2022 | Business, Tax planning, VAT
The VAT registration threshold has already been frozen at £85,000 since April 2017 and it will now be fixed at that level until April 2026. The Chancellor made the point that the UK’s VAT registration threshold is more than twice as high as the average in OECD...
