News
Spring Budget March 2017
We have summarised all the key tax changes announced by Philip Hammond in this years budget and their effect on small businesses, landlords and individuals. Spring Budget 2017
Autumn Budget Statement 2016
Philip Hammond presented his first and last Autumn Statement on 23 November 2016. Our summary of the Autumn Statement provides details of all the key announcements and tax changes.
Budget summary – 16 March 2016
Having previously announced increases in dividend tax rates for 2016/17, the Chancellor had some good news for small business owners in his Budget Speech. Business rates relief has been expanded and made permanent. In addition, £1,000 allowances are introduced for...
Autumn Statement 2015
The highlights of George Osborne's speech on 25 November 2015 was the government's climbdown on tax credits and the increase in stamp duty land tax for buy-to-lets and second home purchases. The main tax changes introduced by the Chancellor can be found in our Autumn...
No More Tax Relief For Landlords
From April 2017, the amount of income tax relief landlords can claim on residential property finance costs will be reduced. The income tax relief on mortgage interest will be restricted to 20%. This change will be introduced gradually over a 4 year period. Wear and...
All Change For Limited Companies
The new dividend allowance will represent a significant tax increase for owners of small companies who have for some years been able to extract profits from their business with a tax efficient mixture of salary and dividends. Dividend Example In 2015/16 Paul takes a...
Personal Tax
Personal Allowance The Chancellor announced that the personal allowance will be increased to £11,000 for 2016/17 and to £11,200 for 2017/18. The government plans to raise the allowance to £12,500 by the end of this parliament. Personal Savings Allowance From 6 April...
The Spring Budget 2015
One of George Osborne's first acts as Chancellor was to establish the Office of Tax Simplification (OTS). That organisation has spent the last five years identifying needless complexity in the tax system and recommending changes to make dealing with tax less taxing....
Workplace pensions and auto-enrolment
The law on workplace pensions has changed. Every employer with at least one member of staff now has new duties, including putting those who meet certain criteria into a workplace pension scheme and contributing towards it. This is called automatic enrolment....
New Budget date set for 8 July 2015
The Treasury confirmed on Saturday that Chancellor George Osborne will present the second budget of 2015 on 8 July.