Category: Financial planning for Businesses & Tax & Uncategorized
Commentary on the Chancellorâs Autumn Statement in the accounting community has been focused on just a few key headlines, reflecting the wider acceptance that this was an Autumn Statement of âtweaksâ rather than ârabbits-out-of-hatsâ.
Category: Accounting & HMRC & Tax & Uncategorized
Information in the Autumn Statement indicates that by 2020 individual taxpayers may be expected to report and pay their liabilities every quarter via their new digital tax accounts. The Chancellor promised an injection of ÂŁ1.3bn to deliver, âthe most digitally advanced tax administration in the worldâ by 2020.
Category: Budget & Lifestyle & retirement & Saving & Tax & Uncategorized
Last year we went over and above the call of duty in our Autumn Statement Preview: we combed the Chancellorâs Twitter feed to look for clues as to what might be in his speech.
Category: Accounting & Tax & Transport & Uncategorized
A recent report, âOn the Moveâ, published by Policy Exchange Think-Tank researchers, explores ideas and policy proposals on how to create a more mobile workforce. One of the key policy ideas in the Report is about offering tax benefits to commuters who use ride-sharing schemes and free parking in city centres for care sharing.
Category: Dividends & Tax & Uncategorized
The Treasury revealed in July that the dividend tax credit would be replaced with a new tax-free allowance of ÂŁ5,000 of dividend income for all taxpayers, which takes effect from April 2016. The Chancellor said at the time that the move would âsimplify the taxation of dividendsâ. But is this just the start of increased dividend taxation? Smaller firms will already probably need to review how they pay directors, but will the need for these reviews increase in the future?
Category: Housing & Tax & Uncategorized
According to HM Revenue & Customsâ (HMRC) policy paper, âRestricting Financial Cost Relief for Individual Landlordsâ itâs not just mortgage interest to which the change in tax relief applies. As well as mortgage interest, finance costs include interest on loans to buy furnishings and fees incurred when taking out or repaying mortgages or loans. The changes do also apply to mortgage arrangement, booking and valuation fees.
