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Making tax digital – distilled

by Jessica Garbett | Mar 3, 2017 | ACCA, business issues, business taxation, HMRC, personal taxatation

Read our digest of the key points of HMRC’s consultation responses – and then let us know what you think. On 31 January, as practitioners were finalising tax returns to meet the self assessment deadline, HMRC published consultation responses indicating the...

When is a car not a car?

by Jessica Garbett | Feb 22, 2017 | ACCA, business taxation

People often ask what is/is not a car for capital allowances and other purposes. Here’s a timely recap on the rules and how they are applied. Basics A business can claim capital allowances on cars bought and used in the business. However, the first issue is – what is...

£1,500 Tax Free Pension Drawdown for Advice

by Jessica Garbett | Feb 17, 2017 | business issues, business taxation, pension reform, pensions, personal finance, personal taxatation

From April 2017 individuals will be allowed to withdraw £500 tax free from their pensions on up to three occasions, once in each tax year, for Pensions and Financial advice. This allowance is available at any age, but clearly it comes from your pension savings –...

£500 Employer Funded Pensions Advice Exemption

by Jessica Garbett | Feb 17, 2017 | business issues, business taxation, pension reform, pensions, personal taxatation

From April 2017 an employer can pay for £500 worth of pensions advice for an Employee, and there will be no benefit in kind on the employee. The precise details are: Exemption on the first £500 of Employer arranged or financed pension advice each tax year Advice must...

Public Sector IR35 changes – Examples

by Jessica Garbett | Feb 11, 2017 | business taxation, employment status, IR35, personal taxatation, PSC, psc guide

Further to our post earlier this week, we have now updated our website with enhanced guidance on the new Public Sector IR35 regime and some examples with figures in them. See our guidance here and examples here

Investors’ relief – How and when to use IR, including worked examples

by Jessica Garbett | Feb 6, 2017 | ACCA, business taxation

In the Finance Act 2016 the Chancellor extended the 10% entrepreneurs’ relief tax rate to investors who are not employees and so would not normally qualify for entrepreneurs’ relief. Similarly to entrepreneurs’ relief, the investors’ relief reduces the capital...

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Making tax digital – distilled

When is a car not a car?

£1,500 Tax Free Pension Drawdown for Advice

£500 Employer Funded Pensions Advice Exemption

Public Sector IR35 changes – Examples

Investors’ relief – How and when to use IR, including worked examples

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