personal taxatation Archives - Page 32 of 47 - Whitefield Tax - Isle of Wight Accountants

Coming soon – new tax on dividends

by Jessica Garbett | Mar 30, 2016 | ACCA, dividends, personal taxatation

Tax free allowance of £5000 to be introduced next month. April 2016 sees the (non-reclaimable) 10% tax credit that has been carried with dividends since April 1999 scrapped and replaced with a new tax-free dividend allowance. The allowance of £5,000 is available to...

Two step verification for Self Assessment

by Jessica Garbett | Mar 24, 2016 | HMRC, personal taxatation

This in from HMRC today, in their own words: From 29th March 2016, HMRC will start to offer more Self Assessment customers “2 Step Verification” when logging into their Tax Account. This means customers will, if they wish, be able to link their mobile phone with their...

Spring Budget: Property Taxes

by Jessica Garbett | Mar 24, 2016 | ACCA, budget, personal taxatation, property taxation

The measures impacting landlords are significant, as they affect the purchase price and allowable deductions. In summary these are: Restriction on mortgage interest deduction Landlords will no longer be able to deduct all of their finance costs from their property...

Trivial benefits

by Jessica Garbett | Mar 23, 2016 | ACCA, business taxation, employer returns, personal taxatation

The HMRC manual changes to take account of Section 323A ITEPA 2003 sets out a statutory exemption for trivial benefits. Under this exemption, ‘if an employer provides a benefit to its employees, the benefit is exempt from tax as employment income if all the...

Scottish income tax

by Jessica Garbett | Mar 23, 2016 | ACCA, personal taxatation

From 6 April 2016, taxpayers pay the Scottish rate of income tax if they live in Scotland. This means that some of their income tax will be paid to the Scottish government. Employees’ and pensioners’ tax code will have the letter ‘S’. This should be at the beginning...

Spring Budget: Company cars and benefits in kind

by Jessica Garbett | Mar 22, 2016 | ACCA, budget, business taxation, personal taxatation

Purchasing a company car – check the benefits in kind increases. This increase will take effect from 6 April 2017 for cars with no registered CO2 emissions which are unable to produce CO2 under any circumstances by being driven, and from 6 April 2019 for all other...

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Coming soon – new tax on dividends

Two step verification for Self Assessment

Spring Budget: Property Taxes

Trivial benefits

Scottish income tax

Spring Budget: Company cars and benefits in kind

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