Autumn Statement

The Chancellor George Osborne delivered his Autumn Statement on 3 December and said: ‘…to improve the productivity of our economy, we back business and we build infrastructure and we will support growth across the whole UK.’ ‘But... Read Full Article...

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Stamp Duty Land Tax (SDLT)

One of the Autumn Statement announcements is a major reform to SDLT on residential property transactions. Historically SDLT has been charged at a single percentage of the price paid for the property, depending on the rate band... Read Full Article...

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Incorporation – restriction of relief for goodwill and Entrepreneurs’ relief

Corporation tax relief is given to companies when goodwill and intangible assets are recognised in the financial accounts. Relief is normally given on the cost of the asset as the expenditure is written off in accordance with... Read Full Article...

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Employment benefits changes ahead

In the Autumn Statement the government announced a package of measures which will impact the treatment of employee benefits in kind and expenses. From 6 April 2015 there will be a statutory exemption for trivial benefits in... Read Full Article...

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Personal allowances and tax bands 2015/16

For those born after 5 April 1948 the personal allowance will be increased from £10,000 to £10,600. The reduction in the personal allowance for those with ‘adjusted net income’ over £100,000 will continue. The reduction is £1... Read Full Article...

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Starting rate of tax for savings income

From 6 April 2015, the maximum amount of an eligible individual’s savings income that can qualify for the starting rate of tax for savings will be increased to £5,000 from £2,880, and this starting rate will be... Read Full Article...

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Do you employ anyone under the age of 21?

From the 6 April 2015, if any of your employees are under the age of 21 you may no longer need to pay employer Class 1 secondary National Insurance contributions (NICs) on their earnings. The rate of employer... Read Full Article...

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Gift Aid declaration to be improved – potentially saving charities billions of pounds

The Gift Aid model declaration form is to be improved, to stop charities potentially losing out on billions of pounds of Gift Aid. The National Audit Office estimates there are donations of around £2.3 billion where Gift Aid... Read Full Article...

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Helping employers identify a pension scheme for automatic enrolment

The Pensions Regulator (TPR) has opened consultation on a proposal to publish a list of pension schemes that are available to any employer, regardless of the number or workers the employer has or their levels of pay.... Read Full Article...

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Holiday Pay and Overtime Ruling

In the judgment an Employment Appeal Tribunal (EAT) has decided that holiday pay should reflect non-guaranteed overtime. Under the Working Time Regulations 1998 most workers are entitled to paid statutory annual leave. This is 5.6 weeks (28... Read Full Article...

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