Tax Archives - Page 5 of 8

Tax Relief changes for individuals who are landlords

August 28, 2015 by TIna

According to HM Revenue & Customs’ (HMRC) policy paper, ‘Restricting Financial Cost Relief for Individual Landlords’ it’s 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.

The Summer Budget implications for ‘Buy-to-Let’ housing

July 31, 2015 by TIna

Category: Budget & Housing & Tax & Uncategorized

A major shake-up of the buy-to-let housing market could be about to take place, after the Chancellor announced plans to change mortgage tax relief for landlords. In his Summer Budget speech, the chancellor said that the relief will be cut to 20%, from 40-45%, in an effort to “level the playing field” between buy-to-let landlords and ordinary house buyers.

Budget 2015: Are taxpayers really winners?

July 29, 2015 by TIna

Category: Budget & financial planning & Tax & Uncategorized

An analysis of the Chancellor’s Summer Budget recently published by ‘This is Money’ presents the outcomes for individuals and families in relation to broad categories of ‘Winners’ and ‘Losers’. One category labelled as winners are Taxpayers.

Budget ‘Tax Raid’ on Dividends and Investment Income

July 28, 2015 by TIna

Category: Business & Tax & Uncategorized

Changes to dividend taxation rates will see entrepreneurs and small business owners pay £6.8bn more in tax during the next five years, a move The Daily Telegraph described as a ‘tax raid’.

FTSE firms become more transparent about their tax affairs

June 19, 2015 by TIna

Category: Business & Tax & Uncategorized

More than half of FTSE 100 companies now disclose information about their approach to tax, a PricewaterhouseCoopers (PwC) June 2015 report shows. The analysis of annual reports, corporate websites and other social responsibility reports, reveals a steady increase in tax transparency across big business. In 2012, just 32 firms in the FTSE 100 provided information on issues such as their attitude to tax planning and relationships with tax authorities. The number jumped to 49 in 2013, and has now risen to 56, according to the most recent 2014 data.

Charity issues guide to help taxpayers pay the right amount

June 17, 2015 by TIna

Category: Tax & Uncategorized

The Low Incomes Tax Reform Group (LITRG) have reissued their guide for taxpayers who receive tax calculation letters from HMRC. HMRC gave notice on the 8th June that they have started the ‘reconciliation process’ of sending letters over the next four months, completing the process in October, to employed taxpayers and pensioners who have either overpaid or underpaid tax in the 2014-15 tax year.

Tax Relief changes for individuals who are landlords

The Summer Budget implications for ‘Buy-to-Let’ housing

Budget 2015: Are taxpayers really winners?

Budget ‘Tax Raid’ on Dividends and Investment Income

FTSE firms become more transparent about their tax affairs

Charity issues guide to help taxpayers pay the right amount

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