Unfortunately, Contractors with a buy to let property had a nasty surprise in the Summer Budget as Osborne undertook to ‘level the playing field’ in the housing market.
Under current rules income tax is only payable on the profit made… Continue reading
If you are earning over £150,000 and make pension contributions you maybe in for a shock.
There are proposals by the current Government to restrict pension relief by tapering income tax relief by taking away £1 of pension relief for… Continue reading
One way is to use Investment Bonds, which are popular with wealthy investors who use them as tax efficient wrappers for holding assets.
The bonds are life insurance policies and are typically used to generate a long term capital growth,… Continue reading
Interesting figures have just been released from HM Revenue and Customs which show how many IR35 enquiries were raised for 2013/14 tax year and the corresponding amount of revenue they raised.
In total for 2013/14 tax year, there were 192… Continue reading
Tax return completion and submission for people with simple tax affairs, most people would agree is overtly complex, and not something most people would look forward to doing.
Over the next parliament, there should be some big improvements in tax… Continue reading
The personal tax year for 2014/15 is due to end shortly on the 5th April 15. If you have maxed out on your pension contributions and used your full ISA allowance, what options are available to a higher earner who… Continue reading
There has been an interesting recent development around HMRC Accelerated Payment Notices.
Accelerated payment notices, which were introduced by last years finance bill, and are controversial because they require the taxpayer to make immediate payment of taxes requested and deny… Continue reading
Previously we wrote about a controversial proposal by HRMC to make it an automatic criminal offence to hold any undeclared taxable income offshore.
It seems as though HMRC are backing away from this proposal, which many commentators have welcomed, as… Continue reading
London suffers highest annual tax enveloped dwellings (ATED).
London is suffering the highest burden on a recently introduced tax on high value, over £2m in value, which targets properties owned by non natural persons.
This tax has raised a substantial… Continue reading
The Government may have next April and unexpected tax windfall. It is expected from April 2015, people will be allowed to access their pension funds, under the new UK Pension reforms.
It is expected that people will be able to… Continue reading