To ask any question about the new flat-rate State Pension scheme seems to suggest a straightforward answer. Everyone will get the same amount won’t they? The answer to the latter question is no. The amount you will get will depend upon a number of factors including: how many qualifying years [...]
The Annual Investment Allowance (AIA) provides an immediate deduction to many business for the cost of most plant and machinery (not cars) purchased by a business up to an annual limit. The maximum annual amount of the AIA was increased to £500,000 from 1 April 2014 for companies or 6 [...]
There have been some recent changes to the amounts that can be claimed as repairs or replacements for landlords of residential properties but, despite these changes, the government is proposing further legislation in this area to be introduced from April 2016. The current treatment of repairs and replacements for residential [...]
The surprise announcement in the Summer Budget 2015 restricting income tax relief for interest costs incurred by landlords of residential properties became law in November 2015. Any hopes that the Chancellor would change his mind were dashed in the Autumn Statement in December when additional charges to Stamp Duty Land [...]
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 is that only one home can count as a PPR [...]
When a dividend is paid to an individual, it is subject to different tax rates compared to other income due to a 10% notional tax credit being added to the dividend. So for an individual who has dividend income which falls into the basic rate band the effective tax rate [...]
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 a self assessment tax return. The background to the initial [...]
Richard and Sarah have been joined by Dan Mepham as a Partner in the business. Dan was previously a Director at a large national firm of accountants and specialised in helping contractors and consultants working through a limited Company. Dan knows the contractor space inside out, regularly contributing to technical [...]
We're proud to announce the launch of our new website. Built on a responsive framework, our new website works beautifully on any size of device including smart phones and tablets. Our new website also benefits from a blog which will help us keep our clients up to date with the [...]
We are 20 years old this year and over that time have seen many changes to the way in which contractors and small businesses operate and we are pleased to say that many of our clients still remain from those early years. We decided our website and branding was starting [...]