Taxing times at the Tory conference
(A round-up of the recent party conferences) Choppy waters for Conservatives So, the dust has settled on another Conservative Party conference and most accountants, economists, bankers were glued to the nightly summary of announcements looking for any clue as to would the Tories cut inheritance tax, income tax, corporation tax or even National Insurance rates? […]
Pension Freedoms: the new curate’s egg?
Many people would argue that the pension freedoms reforms by the previous Chancellor George Osborne, announced in the 2014 Budget and which started in the 2015/16 tax, can be considered a success. There is of course the alternative argument that trouble may not be too far away, as demonstrated by the latest figures from HMRC. […]
7 little known financial consequences of the snap election
Taxpayers caught out by shortened 2017 Finance Act A slim Finance Act 2017 was passed on 27th April, after shedding some 600 pages of tax proposals, some of which were due to take effect on either the 1st or 6th April. Therefore any taxpayers who have acted on the basis the new tax rules would […]
More Tax implications of Brexit
Now that the initial dust has settled on the Brexit vote, business owners up and down the land are starting to ask questions about the tax implications of leaving the EU. Virtually every client I’ve seen since that momentous day on 23rd June has asked me a question on the subject and this has happened […]
Office of Tax Simplification Review:
Big changes for small businesses Change on the Richter scale is on the way if recommendations from the Office of Tax Simplification (OTS), get the go ahead from George Osborne and the Treasury. This is the third time the OTS has entered the fray to suggest changes to small company taxation, with this review being […]
Latest Tax News & Comment
Boost for family finances as Easter getaway begins Families planning an Easter break got a boost on 1st March when the cost of their foreign holidays are slashed as children under 16 will join under 12s in being exempt from paying Air Passenger Duty (APD) in economy class. This change, which was announced by Chancellor […]
Why Corporation Tax is failing the British Economy
The treasury should tax Google’s sales not their profits Corporation tax should be replaced with a levy on multinationals’ UK sales, according to the former Chancellor Nigel Lawson. In an interview with the Daily Telegraph, Lord Lawson asserted that it was an unsatisfactory situation, when tax had to be collected from big firms through secret […]
Finance Bill 2016
Following George Osborne’s Autumn Statement on 25th November, the draft Finance Bill 2016 was published on 9th December. We know roughly which topics will be included in Finance Bill 2016, from the Chancellor’s speech, but the nitty gritty detail is now in print. It is said that the devil is in the detail, so what […]
Tax Changes To Income from Property
In the Budget three months ago, George Osborne announced a number of changes on the taxation of income from property, but didn’t give any details as to how the changes might affect you if you are a landlord. Now that the Finance Bill has been passed in the House of Commons, the detailed rules have […]
Autumn Statement 2015 – what 3 cuts to expect
George Osborne had his sums all tied up; he would bring the country’s accounts back into surplus by 2019/20 by making £12bn worth of social security savings. This plan was flagged up before the election, but the detail was not revealed until the Budget after the election, when it became clear that £4.4bn of the […]
