Category: Autumn Statement & financial planning & Uncategorized
The latest budget pronouncements by the Chancellor in his 2015 Autumn Statement may accelerate increases in local council taxes over the next few years, for both homeowners and businesses.
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 £1.3bn to deliver, “the most digitally advanced tax administration in the world” by 2020.
Category: financial planning & Housing & property & Uncategorized
Chancellor George Osborne landed buy-to-let landlords a shock during the Autumn Statement by announcing a 3% stamp duty surcharge on property purchases from 1st April 2016.
The addition of a 3% extra charge for buy-to-let and second homes on all stamp duty bands above a £40,000 starting level will see some purchases taking on a much larger amount of stamp duty.
Category: Market commentary & Uncategorized
Introduction
November brought us the Chancellor’s Autumn Statement and Spending Review in the UK – and rather more tragic events abroad. Friday November 13th saw the massacre in Paris, which was inevitably followed by an escalation in the bombing of ISIS in Syria.
Category: Autumn Statement & financial planning & Uncategorized
According to George Osborne’s Autumn Statement and Spending Review, we all look set to face a galvanised HMRC, with an increased war chest for tackling tax evasion and avoidance. The Chancellor believes £5bn of additional revenue is expected to be raised by his new range of initiatives. Measures are planned to introduce new penalties for the General Anti-Abuse Rule (GAAR) and disguised remuneration schemes.
Category: Annual Allowance & pensions & Uncategorized
The government announced on 8 July 2015, that for 2016 to 2017 onwards the annual allowance for tax relieved pension savings will be reduced for those with incomes of over £150,000. Their annual allowance will be reduced by £1 for every £2 of income they have over £150,000, with a maximum reduction of £30,000.
