The Enterprise Investment Scheme allows unconnected investors to obtain a 30% set off against their income tax liability up to £1,000,000 investment each tax year. So a £10,000 investment reduces the investor’s income tax liability by £3,000. I n addition, provided those shares are held for at least 3 years, the gain on disposal of […]
Category Archives: Uncategorised
09
Sep
Sep
The Chancellor announced that the amount of income tax relief landlords can get on residential property finance costs (such as mortgage interest) will be restricted to the basic rate of tax. To give landlords time to adjust, the change will be phased in gradually over 4 years: 2017/18 – the deduction will be restricted to […]
02
Sep
Sep
The annual investment allowance (AIA) was due to be reduced from the current temporary level of £500,000 to just £25,000 from 1 January 2016. The Chancellor has bowed to pressure from industry to stop tinkering with this allowance for expenditure on plant and machinery and set it at a permanent level so that businesses can […]
Business Taxes, PAYE, Tax Planning, Uncategorised
Changes to taxation of dividends & the impact on family companies
26
Aug
Aug
The Chancellor has announced that from 6 April 2016 there will no longer be a notional tax credit associated with dividends received and the following rates will apply after a £5,000 tax free dividend allowance: Basic rate taxpayers – 7 ½% Higher rate taxpayers – 32 ½% Additional rate taxpayers – 38.1% This will mean that from […]
30
Sep
Sep
Welcome to WordPress. This is your first post. Edit or delete it, then start blogging!