Company car drivers should be giving consideration to the issues raised in this article if they are provided with fuel for private mileage by their employers. With no repayment to compensate for private fuel provided, employees will suffer a significant car fuel benefit in kind charge. Depending on the type of vehicle you drive the […]

One of the more obscure filing deadlines for Self Assessment purposes relates to a claim to have your tax underpaid for a year recovered by an adjustment, an increase, in the PAYE stopped from your salary in a future tax year.  For underpayments year to 5 April 2015, the filing deadline is fast approaching, 30 […]

On the 8 July 2015, George Osborne announced a number of changes to the taxation of property businesses. Without a doubt the most impactful change is the loss of higher rate tax relief for finance charges, which includes mortgage interest. What he didn’t explain was the not so gentle push of many landlords, who were […]

The following information is extracted from the Government’s help sheet: New accounts will be available for 4 years, but once you have opened an account there’s no limit on how you long you can save for. Accounts will be available through banks and building societies from Autumn 2015. You can make an initial deposit of […]

Individuals, who are considering the purchase of a second home, or a buy-to-let property, would be advised to complete their purchase before 1 April 2016. From this date new rates of stamp duty land tax (SDLT) will apply.   In his autumn statement, George Osborne announced the following change:   “Higher rates of Stamp Duty […]

From January 2016 the Financial Services Compensation Scheme (FSCS) is changing. Savers have one month left to adjust their bank deposits to the new limits. Here’s the updated information posted to the FSCS website posted 5 July 2015:  “Savers are getting a new deposit guarantee limit from the New Year. The current £85,000 level of […]

Announcements for businesses Support for smaller businesses The Chancellor reported that the UK’s small and medium sized enterprises now employ 15.6 million people, up from 13.7 million in 2010. Over the last two years the number of small businesses employing someone other than the owner has grown by 100,000. The government understands that small businesses […]

The Summer Budget changes formally completed their progress through the legislative process and received royal assent on 18 November 2015. We have summarised in this posting the main changes to business tax that are now enacted: Corporation tax rates will be reduced to 19% from 1 April 2017 and 18% from 1 April 2020. A […]

 A reminder that delays created by legal action to block this new scheme mean that it will not be rolled out until early 2017, a year later than planned. A top ten summary of the benefits of the new scheme are reproduced below: 1. You’ll be able to open an online account You’ll be able […]

Over the next few years changes announced by George Osborne in the Summer Budget 2015 may have profound effects on the level of rents and the availability of rental accommodation in the UK.  From April 2017, landlords will see an increase in their annual tax bills. The increase may be significant in some cases.  Why […]