News Archive
Family Investment Companies – FIC
Over recent years, with changing legislation, Trusts are no longer the most tax efficient way to transfer assets to future generations.
Savings Income 0% Rate
Are you aware that from April 2015 if your total income, including wages, pension, benefits and savings income is less than your personal allowance level plus £5,000, you will be able to register for tax free.
VAT Digital Sale – Moss Registration
Some good news. HM Revenue & Customs have announced that those businesses who supply B2C digital services but below the UK threshold for VAT registration
Statutory adoption pay
Very strangely adoption leave arrangements were somewhat different from maternity leave. However, from 5 April 2015 it has all changed. Adoption leave now follows the same format as maternity leave.
Standard Individual Savings Accounts (ISA’s)
This year’s budget created a brand new ISA and then introduced changes to the existing ones. This together with other improvements announced last year is an opportunity to outline those which are available.
ISA’s – Latest news
There are now three types of ISA that you can choose from (standard individual savings accounts). These are all tax free investments.
New Charity Audit Thresholds
The Cabinet Office have announced that there will be changes in the audit threshold with effect for years ending on or after 31 March 2015.
National Insurance
All self employed persons pay a class 2 national insurance stamp. In the past this has usually been collected by a monthly direct debit or in some cases.
Chancellor’s Autumn Statement 2014 – Some of the major tax highlights
The Chancellor announced that there would be a further increase in the personal allowance for individuals for 2015/16, raising the level to £10600.
SORP (FRSSE) compared to SORP (FRS 102)
The Following is not intended to be an exhaustive list of the differences between the charity SORPs, but it should help trustees and their advisers.
VAT Mini One Stop Shop (Moss)
Some good news. HM Revenue & Customs have announced that those businesses who supply B2C digital services but below the UK threshold
Social investment tax relief
Social Enterprise Tax Relief is a new form of tax relief which was introduced on 6 April 2014 which will allow individuals to invest in Social Enterprise projects.