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 âlevel the playing fieldâ between buy-to-let landlords and ordinary house buyers.
Category: Budget & financial planning & Tax & Uncategorized
An analysis of the Chancellorâs Summer Budget recently published by âThis is Moneyâ presents the outcomes for individuals and families in relation to broad categories of âWinnersâ and âLosersâ. One category labelled as winners are Taxpayers.
Category: Business & Tax & Uncategorized
Changes to dividend taxation rates will see entrepreneurs and small business owners pay ÂŁ6.8bn more in tax during the next five years, a move The Daily Telegraph described as a âtax raidâ.
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.
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 âreconciliation processâ 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.
Category: Business & Tax & Uncategorized
The governmentâs new Diverted Profits Tax (DPT), commonly known as the âGoogle taxâ, formally came into force on 1st April. Detailed initially during the 2014 Autumn Statement, the tax is an attempt by the government to stop large firms from paying comparatively small amounts of tax in the UK by âdivertingâ their profits to be reported overseas.
