budget Archives - Page 19 of 32 - Whitefield Tax - Isle of Wight Accountants

Tax-free dividends shrink

by Jessica Garbett | Jan 3, 2018 | ACCA, budget, business taxation, personal taxatation

Untaxed band for dividend income falls to £2,000. From 6 April 2018 the level of dividend income received tax-free will be reduced from £5,000 to £2,000. The tax rates applying outside this band remain unchanged. Dividends above the £2,000 threshold will be taxed at...

Depreciatory loss relief rules changed

by Jessica Garbett | Dec 14, 2017 | ACCA, budget, business taxation

Six-year limit removed for depreciatory transactions within a group. Legislation will be introduced in Finance Bill 2017/18 to remove the six-year limit imposed by section 176(1) of the Taxation of Chargeable Gains Act 1992 (TCGA) to prevent companies from claiming...

CGT exemption conditions eased

by Jessica Garbett | Dec 11, 2017 | ACCA, budget, business taxation, capital taxation

Substantial shareholding exemption made easier to claim. The government is to amend the substantial shareholding exemption (SSE) legislation and the share reconstruction rules to avoid unintended chargeable gains being triggered where a UK company incorporates foreign...

Loss makers get tax break for green efficiency

by Jessica Garbett | Dec 4, 2017 | ACCA, budget, business taxation

Tax credits for loss-making businesses investing in efficient energy and water. Legislation will be introduced in the Finance Bill 2017/18 to amend schedule A1 to the Capital Allowances Act 2001. It would allow loss-making UK businesses to claim a first-year tax...

Budget: Stamp duty bonanza for first-time home buyers

by Jessica Garbett | Dec 1, 2017 | ACCA, budget, property taxation

Nil-rate stamp duty band for first-time buyers extended to £300k. From 22 November 2017 first-time buyers paying £300,000 or less for a residential property will pay no stamp duty land tax (SDLT). This measure does not apply in Scotland, as SDLT was devolved to the...

Budget: VAT roundup

by Jessica Garbett | Dec 1, 2017 | ACCA, budget, VAT

Changes made (or signalled) to thresholds, EU imports, vouchers and refunds. Two-year threshold freeze In response to the announcement of a VAT simplification by the Office of Tax Simplifcation (OTS) earlier this month, the chancellor has decided to freeze the VAT...

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Tax-free dividends shrink

Depreciatory loss relief rules changed

CGT exemption conditions eased

Loss makers get tax break for green efficiency

Budget: Stamp duty bonanza for first-time home buyers

Budget: VAT roundup

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