Personal Tax The threshold at which people pay 40% tax will rise from £42,385 to £45,000 in April 2017. Tax-free personal allowance rising to £11,500 in April 2017 0.5% rise in insurance premium tax. Capital Gains Tax Capital Gains Tax to be cut from 28% to 20%, and from 18%...
Below are the key points from George Osborne’s 2015 summer budget in relation to businesses and personal tax changes. Businesses Corporation Tax will be cut from its current rate of 20% to 19% in 2017 and 18% in 2020. National Insurance employment allowance for small firms to be...
Whether you are an independent Film Maker or an investor looking to diversify your portfolio; here are a few slides that can provide you with a comprehensive overview of the tax relief that may be available to you. [embeddoc url="https://numbergeek.com/wp-content/uploads/2015/05/Investing-in-Film.pptx" height="500px" viewer="microsoft"]...
A few brief slides outlining the changes to EU VAT registration for suppliers of Broadcasting, Telecommunications and Electronic (BTE) Services from the 1st January 2015. [embeddoc url="https://numbergeek.com/wp-content/uploads/2015/01/EU-VAT-changes-1.1.2015.pptx" height="600px" viewer="microsoft"] For more detailed information see: https://ec.europa.eu/taxation_customs/resources/documents/taxation/vat/how_vat_works/telecom/explanatory_notes_2015_en.pdf...
Key features Cash basis is a way of working out a business’s income and expenses for a Self-Assessment Tax Return. The cash accounting regime is voluntary and available to unincorporated businesses. Using cash basis requires records to be kept in a certain way from April 2013- recording...
Many companies are migrating to Britain and especially London to take advantage of the resources available to businesses. London has long been established as leading centre for banking and finance and with the emergence of tech city it is fast becoming recognised as the place to be...
Background Previously UK employers were not required to contribute to their employees’ pension schemes, however this is set to change with new laws which started to come into force from October 2012. As an employer, even if you employ just one person, you will be responsible...
Around this time of year there can be many business events such as Christmas parties and trips for employees as well clients. Many employers have trouble distinguishing between allowable expenses and disallowable expenses in terms of tax so I have put together this blog to...
IR35 was a piece of legislation brought in by HMRC 12 years ago in an attempt to tackle tax and National Insurance avoidance schemes through the use of intermediaries such as partnerships or companies. HMRC’s view was that a large number of IT Consultants, Engineers,...
Enterprise Management Incentive (EMI) share options have been around for over a decade, allowing small higher risk businesses retain employees and grow the business by offering an equity stake in the company. How do they work? If the employer were to simply give their employee shares in...