Personal service companies in the public sector

From April 2017, individuals working through their own company in the public sector will no longer be responsible for deciding whether the intermediaries legislation applies and then paying the relevant tax and NIC. This responsibility will instead... Read Full Article...

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Reduction in corporation tax rate

The main rate of corporation tax is currently 20% and this rate will continue for the Financial Year beginning on 1 April 2016. In the following years the rate of tax will fall as follows: 19% for... Read Full Article...

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Personal allowances and tax bands

For those born after 5 April 1938 the personal allowance is currently £10,600. Those born before 6 April 1938 have a slightly higher allowance. Legislation has already been enacted to increase the personal allowance to £11,000 in... Read Full Article...

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National Minimum Wage rises

The National Minimum Wage (NMW) rates will increase from 1 October 2016 as follows:   Current rate Rate from 1 October 2016 21-24 year olds £6.70 £6.95 18-20 year olds £5.30 £5.55 16-17 year olds £3.87 £4.00... Read Full Article...

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Register of people with significant control

From April 2016, rules are introduced which require companies to keep a register of People with Significant Control (PSC). In addition, the details of PSC will have to be filed with Companies House from 30 June 2016.... Read Full Article...

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Auto enrolment success for small businesses

More than 90% of the first small employers required to put their staff into a workplace pension have now complied with the law. Around 12,000 small and micro employers became subject to the new legal requirements last... Read Full Article...

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What will the Budget bring for businesses?

With two Budgets in 2015 it does not feel like that long ago since we last had a Budget but the next one is not that far away and will take place on  Wednesday 16 March 2016. Ahead... Read Full Article...

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Changes to the taxation of saving income

There are significant changes to the income tax rules from 6 April 2016 which affect the taxation of savings income. From 6 April 2016, if you are a basic taxpayer you may be able to receive up to... Read Full Article...

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Year end tax planning

We are fast approaching the end of the tax year there is still time to save tax for 2015/16. We have set out some points you may want to consider. Review dividend payment timing – with new dividend... Read Full Article...

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Trivial benefits exemption

From April 2016, where trivial benefits are provided to employees they may be exempt from tax if certain conditions are met. The conditions are: the cost of providing the benefit does not exceed £50 the benefit is... Read Full Article...

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