• news-car

    Advisory Fuel Rate for Company Cars

      These are the suggested reimbursement rates for employees’ private mileage using their company car from 1 December 2017. Where there has been a change the previous rate is shown in brackets.   Engine Size Petrol Diesel LPG 1400cc or less 11p 7p 1600cc or less 9p 1401cc to 2000cc 14p (13p) 9p (8p) 1601 […]

    in News on January 26, 2018 Comments 0
  • news-house

    Relief from Additional 3% SDLT Charge

      Much of the focus in the Autumn Budget on Stamp Duty Land Tax (SDLT) concerned the abolition of the duty for first time buyers of property up to £300,000. There was also welcome news for those involved in other property transfers where the 3% supplementary SDLT charge potentially applies when an interest in a […]

    in News on January 24, 2018 Comments 0
  • news-lamp

    Tax relief for Energy Saving Technology

      For a number of years there has been a generous 100% tax break for businesses that install energy saving technology in their premises. This is in addition to the £200,000 annual investment allowance for plant and machinery.   The technology that qualifies for this 100% tax break includes energy efficient boilers and energy saving […]

    in News on January 22, 2018 Comments 0
  • news-writing

    Consider Making Regular Gifts out of Surplus Income

      Whilst on the subject of inheritance tax planning why not consider setting up a standing order to family members? Such regular gifts can be outside of the scope of inheritance tax provided they are made out of surplus income and not out of capital. It would be necessary to demonstrate that you are left […]

    in News on January 19, 2018 Comments 0
  • news-home

    Downsizing to Smaller Property?

      The new inheritance tax relief for passing on the family home is protected even when you downsize to a smaller property.   For example, if a married couple currently live in a large house worth £500,000 and downsize to a flat worth £250,000 they could give away some of the proceeds during their lifetime […]

    in News on January 17, 2018 Comments 0
  • news-house

    Passing on the Family Home

      New inheritance tax rules for passing on the family home started on 6 April 2017. This new relief should be taken into consideration when drafting your Will and we can work with your solicitor to make sure your Will is tax efficient.   From 6 April 2017 an additional nil rate band of £100,000 […]

    in News on January 15, 2018 Comments 0
  • news-elderly

    Pension Planning

      For most taxpayers the maximum pension contribution is £40,000 each tax year, although this depends on their earnings. This limit covers both contributions by the individual and their employer.   Note that the unused allowance for a particular tax year may be carried forward for three years and can be added to the relief […]

    in News on January 12, 2018 Comments 0
  • news-moneybox

    New Year Resolutions to Save Tax

      At this time of year we think about New Year’s resolutions. It is also a good time to start planning your tax affairs before the end of the tax year on 5th April.   An obvious tax planning point would be to maximise your ISA allowances for the 2017/18 tax year (currently £20,000 each). […]

    in News on January 10, 2018 Comments 0
  • news-coffee

    Tax Diary December 2017/January 2018

      1 December 2017 – Due date for corporation tax due for the year ended 28 February 2017.   19 December 2017 – PAYE and NIC deductions due for month ended 5 December 2017. (If you pay your tax electronically the due date is 22 December 2017)   19 December 2017 – Filing deadline for […]

    in News on January 8, 2018 Comments 0
  • news-office-work

    What is the General Data Protection Regulation (GDPR)?

      The GDPR is the new data protection regulation that becomes a legal obligation from 25 May 2018. Every business will have its own specific challenges regarding implementation of changes to internal systems to ensure compliance with the GDPR.   Theory is fine, but business owners, particularly smaller concerns, will no doubt want clear advice […]

    in News on January 5, 2018 Comments 0