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Detailed Autumn Budget Report 2017
This Report, which was written immediately after the Chancellor of the Exchequer delivered his Budget Speech, is intended to provide an overview of the latest announcements and recent measures most likely to affect you or your business. The 2017 Autumn [...]
Autumn Budget 2017
Philip Hammond delivered his Budget today after much speculation. All in all it was a pretty underwhelming budget speech and “red book”. All those rumours of immediate roll out of the public sector IR35 reforms to the private sector, reduction [...]
Inheritance tax receipts continue to rise
Latest figures from HMRC reveal a 22% increase in inheritance tax (IHT) receipts in the 2015/16 tax year. This is a significant uplift from the average 12% annual increases that have been experienced since 2010.
Dealing with distractions
Research suggests that when we are distracted from a piece of work it takes between 10 and 15 minutes to get back to that point of focus afterwards.
Spring Budget 2017
The Chancellor Philip Hammond has delivered his first Budget speech and outlined plans for what he called ‘a fair, stable and competitive tax system’.
Are you contracting in the public sector?
As you may have read in our Autumn Statement commentary, changes in April 2017 will mean that contractors working in the public sector will no longer have a say in their IR35 status. Instead the responsibility to determine IR35 [...]
Autumn Statement 2016 More Information
Chancellor pledges post-Brexit economy ‘that works for everyone’ The new Chancellor of the Exchequer, Philip Hammond, acknowledged ‘sharp challenges ahead’ for the economy as he presented his first major fiscal statement, exactly five months after the UK’s historic vote to [...]
Autumn 2016 Statement
Philip Hammond has just delivered his first Autumn Statement and announced a whole raft of changes in government policy ranging from Research and Development incentives to help bridge the "productivity gap" to a £7.6m grant to save Wentworth Woodhouse – [...]
Chancellor presents a ‘next-generation Budget’
What does it mean for contractors and small businesses? There is more information in the following pages but the main areas of interest for contractors and small businesses are as follows
Changes in Dividend Taxes from April 2016
From 6 April 2016 there are changes to the way in which dividends will be taxed. The complicated 10% tax credit system is being removed so all dividends will be paid net and new rates will be introduced to tax the dividends received in the year.
Spending Review and Autumn Statement 2015
The Chancellor gave his speech in the House of Commons today (25th November 2015) setting out his plans for the next few years and the current state of the economy. We were expecting some news for contractors and small businesses [...]
Maximising tax relief for two homes
The UK tax regime provides an important relief from the capital gains tax charge (CGT) on the gains made by owner-occupiers on the sale of their private homes. This is known as Principal Private Residence relief (PPR). The general principle [...]
Contractor loan schemes
If it sounds too good to be true it normally is! George Osborne announced in the Summer Budget there would be more funds available to HMRC to counter tax avoidance schemes (high profile cases such as Jimmy Carr and Chris Moyles [...]
Changes to the taxation of dividends
In the Summer 2015 Budget, George Osborne announced changes to the way in which dividends are taxed. The changes take place for dividends received from 6 April 2016. Some individuals who extract profits from their company as dividends may need [...]
Self assessment tax return submissions
You may have seen in the press or on the TV a couple of months ago, news stories that implied that it would be easy to get out of paying an automatic £100 minimum penalty for the late filing of [...]
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