Changes for ‘Buy to Let’ Landlords

It was announced in the Budget that the government will restrict the amount of income tax relief landlords can claim on residential property mortgage interest costs to the basic rate of income tax. This means that landlords... Read Full Article...

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Annual Investment Allowance certainty

The Chancellor announced that Annual Investment Allowance will be set permanently at £200,000 from 1 January 2016 providing certainty for businesses. The AIA provides a 100% deduction for the cost of most plant and machinery (not cars)... Read Full Article...

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The family home and IHT

The government has announced the introduction of a new transferrable nil rate band for the family home. The additional band will apply where a residence is passed on death to direct descendants such as a child or... Read Full Article...

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National Living Wage

The government has announced the introduction of a new National Living Wage (NLW) for working people aged 25 years and above. The NLW will introduce a premium on top of the national minimum wage (NMW). Initially the... Read Full Article...

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PAYE late filing penalties

HMRC have now issued the first in-year penalties notices to employers with fewer than 50 employees who missed the deadline for sending PAYE information to HMRC. Rather than issue late filing penalties automatically when a deadline is... Read Full Article...

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Claiming the marriage allowance

The Low Incomes Tax Reform Group published updated guidance on how to apply for the new transferable personal allowance, known as the marriage allowance, for married couples and civil partners which came into effect on 6 April... Read Full Article...

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Phishing emails HMRC examples

HMRC have updated their list of examples of emails, letters, text messages and bogus calls used by ‘scammers’ and fraudsters to get taxpayers personal information. This guidance provides examples of the different methods that fraudsters use to... Read Full Article...

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HMRC checking employees have paid the correct amount of tax on their pay

HMRC have started to check that people have paid the right amount of tax in 2014/15, a process they refer to as the annual End of Year Reconciliation process. They will be sending out forms P800 first... Read Full Article...

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Statistics show employment rise in 2015

The Office for National Statistics (ONS) has released figures showing that UK employment rates were up between February and April compared to the three months to January 2015.  As detailed in the press release the figures show:... Read Full Article...

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Budget announcements

George Osborne delivered his second budget of the year on 8 July 2015. Following the general election in May this was the first full Conservative budget since 1996.  The budget focussed on reducing the budget deficit and... Read Full Article...

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