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BUDGET 2016 – Brian Jukes’ review – all you need to know!

Goodness me – that was some performance!  With economic gloom threatening on the horizon and UK growth rates being downgraded, the Chancellor managed to pull every positive out of the hat that he possibly could.  And that performance was mirrored in the depth of content from a tax point of view and some genuinely unexpected… Read More

BUDGET 2016 – Salary Sacrifice, still highly effective

Salary sacrifice arrangements enable employees to give up salary in return for benefits-in-kind that are often subject to more favourable tax treatment than salary. The Government wants to encourage employers to offer certain benefits but is concerned about the growth of salary sacrifice schemes. The Government is therefore considering limiting the range of benefits that… Read More

BUDGET 2016 – Changes to Capital Gains Tax Rates

A surprise announcement in the Budget was the reduction in capital gains tax rates. This measure reduces the 18% rate of CGT to 10% and the 28% rate of CGT to 20% for chargeable gains, except in relation to gains on the sale of residential property that does not qualify for private residence relief. In… Read More

BUDGET 2016 – Changes to the Tax threshold announced

The Chancellor had previously announced his intention to increase personal allowances and the basic rate tax band. The purpose of this is to increase the threshold at which individuals start to pay higher rate tax. For the current 2015/2016 tax year the basic rate threshold is set at £42,385 and this will increase to £43,000… Read More

Pension Tax Relief – George changes his mind…..

After 6 months of leaks and warnings, The Chancellor has woken up to the idea that discouraging pensions saving by removing the tax incentives was a bad idea. If it was such a bad idea, why take all this time come to the conclusion……? Nothing of course to do with upsetting half his MPs with… Read More

The new dividend tax from April 2016 – How will it impact you?

Back in July 2015 in the post election Budget the Chancellor announced a huge change to the way dividends will be taxed. Having an £8k salary and taking the rest as dividends has become the norm for many director shareholders, thereby avoiding the employer’s and employee’s NIC on the salaries they might otherwise have taken…. Read More

Don’t let the sharks catch you! by Brian Jukes, Tax Partner

Just as in every walk of life, there are sharks who purport to be trustworthy professionals who will look after your interests from an accountancy, tax or legal perspective. The successes of HMRC in attacking artificial tax avoidance schemes in recent years has led to many claims of mis-selling, which has in turn created an… Read More

Are you ready for the digital tax revolution? Get ready now!

The government is about to invest £1.3 billion in transforming HMRC into one of the world’s most advanced tax administrations. The new system will demand that most unincorporated businesses, self employed people, landlords and anyone with a secondary income of over £10,000 per year, will have to keep track of their affairs digitally and provide… Read More

Pensions update Autumn 2014 – More good news!

At the Conservative Party conference last week, George Osborne surprised everyone when he announced further changes due to come into force, probably, from April 2015. These changes centre around those individuals who, whilst leaving their pension funds fully invested, draw their pension benefits from it (a concept known as Income Drawdown). Death before age 75 The… Read More

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