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Your 2020 financial planning checklist

13th January 2020

A new year (and even a new decade!) is always a good time to review your finances, ensuring they are in good shape to see you through 2020 and beyond. To follow is a checklist for some of the most important aspects which are worth considering this year: 1.... read more

Posted in: Financial Planning, Tax

July 2015 Budget – Take Two

8th July 2015

The main headline grabbers from George Osborne’s Budget announced 8th July 2015 are: Taxation of Dividends – The government will abolish the Dividend Tax Credit from April 2016 and introduce a new Dividend Tax Allowance of £5,000 per year. Income from Rental Property – The Wear and Tear allowance... read more

Posted in: Inheritance Tax, News, Pensions, Tax

Tax form mislead – HMRC apologises

15th June 2015

Following the recent pension regulation changes in April 2015, HMRC has introduced a new tax form which aims to simplify the process of reclaiming any overpaid tax. According to recent reports, rather than helping pension savers reclaim 30 day refunds on any overpaid tax (provided that they had accessed... read more

Posted in: News, Tax

Tax changes from 6 April 2015

20th May 2015

Following the UK Election results, we have summarised the key tax changes below that will come into effect from 6 April: The income tax personal allowance has increased to £10,600 The higher rate income tax threshold has increased to £42,865 The starting rate of savings income tax reduces from... read more

Posted in: News, Tax

Tax Returns

11th February 2015

Missed the tax return deadline? – What does a late return mean? The filing deadline for 2014 returns has now passed, but what are the implications of missing the deadline, and the key dates going forward? 31 January 2015: If you have not submitted your tax return by this... read more

Posted in: News, Tax

The 2015 Finance Bill

11th December 2014

2015 Finance Bill As outlined in the 2015 Finance Bill, on 10 December 2014 the Government produced the widely anticipated draft legislation that will implement a Capital Gains Tax charge on non-residents selling UK residential property after 6 April 2015. This represents a major change to the taxation of... read more

Posted in: Capital Gains Tax, News

HMRC Taking Debts

8th July 2014

HMRC news update There has been much press coverage of a recent HMRC consultation. This is proposing new powers that would allow them to recover certain tax debts directly from individual’s bank accounts. Whilst this is a proposal at the current time, the ramifications of such a new power... read more

Posted in: News, Tax

Undeclared Income

13th March 2014

Undeclared Income HMRC latest advertising campaign centres on their intention to close in on undeclared income amounts. One of the areas HMRC are concentrating on is undeclared offshore income.  This has been targeted several times over the past number of years and this time is backed by a number... read more

Posted in: News, Tax