Corporation tax and loans to participators
on 17 March 2016
with No Comments
The corporation tax rate for all companies is set to fall from 20% currently, to 19% from 1 April 2017. … Read More
VAT thresholds
on 17 March 2016
with No Comments
The VAT registration thresholds increase by £1000 from 1 April: Registration threshold from 1 April 2016 = £83,000 (based on … Read More
Class 2 National Insurance (self employed)
on 17 March 2016
with No Comments
Class 2 National Insurance (“the stamp” in old money) stopped being collected by direct debit from 6 April 2016. It … Read More
IR35 when working for public sector
on 17 March 2016
with No Comments
Broadly IR35 (the Intermediaries Legislation) requires personal service companies (usually single person company) to pay the director a salary of … Read More
Tax exemption for trade or property income less than £1000
on 17 March 2016
with No Comments
From 6 April 2017 trading income or property income less than £1,000 in a tax year will no longer be … Read More
Personal Allowance, Basic Rate Band and CGT rates
on 17 March 2016
with No Comments
As announced in 2015 and 2016 budgets, Personal Allowances and the Basic Rate Band will increase from 6 April 2016 … Read More
Further Changes to ISAs
on 17 March 2016
with No Comments
The current £15,240 ISA limit is frozen for 2016/17. The Junior ISA limit remains at £4,080 for 2016/17. The Chancellor … Read More
Pensions (no major changes after all)
on 17 March 2016
with No Comments
Despite widespread predictions in the media and tax press, there has not been further restrictions in tax relief on pensions … Read More
LISA (new, if you’re lucky enough…)
on 17 March 2016
with No Comments
LISAs or Lifetime Individual Savings Accounts will be available from 6 April 2017. These will allow up to £4,000 to … Read More
Entrepreneurs’ relief (ER) for external investors
on 17 March 2016
with No Comments
Entrepreneurs’ relief (ER) will be extended to external investors in unlisted trading companies. This new investors’ relief will apply a … Read More