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Turning pension contributions into tax-free income

If you have money to invest you could go for one of the government’s tax-advantaged schemes like ISAs. These have proved popular, but could the changes to scheme rules make a pension a better home for your cash?

Tax-advantaged investments

Tax-advantaged investments come in all shapes and sizes. Some offer tail-end tax benefits, e.g. ISAs, i.e. there’s […]

By |February 12th, 2016|Pension Scheme, Personal Tax, Tax|0 Comments

What’s new with 2016/17 tax codes?

HMRC is working out 2016/17 tax codes ready for issue in early 2016. Changes to dividend and other investment income tax rates, plus a new system for taxing benefits might mean radical changes to your code. What’s the full story?

The right code

The amount of tax you pay on your salary etc. depends on your code […]

By |January 15th, 2016|Business Tax, Company Car, Personal Tax, Property Tax, Tax|0 Comments

What can EIS do for you?

Earlier in 2015 changes to the rules for companies raising capital through the enterprise investment scheme (EIS) were announced. What effect, if any, do they have on the availability of tax breaks for investors?

EIS risk and reward

Because of the generous tax breaks it offers, EIS and its predecessor schemes have been one of the government’s […]

By |January 11th, 2016|Personal Tax, Uncategorized|0 Comments

Funding for Lending scheme extended

The Bank of England has announced that the closure of its Funding for Lending scheme for SMEs has been deferred. How might this help your business obtain additional finance?

Extended scheme

At the end of November 2015, and with the backing of the government, the Bank of England extended its Funding for Lending arrangement for banks. It […]

By |December 14th, 2015|Personal Tax, Tax|0 Comments

Stamp duty land tax

This week I have had several conversations again this week with clients on this subject following the autumn statement.  So I thought it would be usefull to share some information on it.

This article is a useful one which helps explain the new second home / landlord 3% stamp duty.

http://news.rla.org.uk/stamp-duty-land-tax-how-will-the-hike-affect-me/

If you have any questions about your […]

By |December 4th, 2015|Business Tax, Company Car, Personal Tax, Property Tax, Tax|0 Comments

AUTUMN STATEMENT 25 NOV 15

HIGHLIGHTS

In the first combined Spending Review and Autumn Statement since 2007, the Chancellor’s emphasis was on expenditure. He nevertheless made a range of tax-related announcements, the main ones being:

Stamp duty land tax (SDLT) From 1 April 2016 SDLT rates will be increased by 3% for the purchasers of buy-to-let and second homes. From April 2019, […]

Too good to be true?

For a number of years now, as a practice, we have been spouting on about the merits of something called EIS/VCT investments for saving Tax.  However it seems that no matter how much we promote these as fantastic options to potentially reduce client’s tax liabilities they are just not taken up as frequent as perhaps they […]

By |November 17th, 2015|Personal Tax, Remuneration Planning, Tax|0 Comments

Have you got the right company car?

This is question many company directors ask themselves. At Best accountancy we have been asked this many times over.  It is a bit of a minefield area, however, the tax savings are really very significant and well and truly worth investigating.  On some vehicles in fact you can get double tax relief.  If you re […]

By |November 4th, 2015|Business Tax, Company Car, Personal Tax, Tax|0 Comments

Landlords – Property Tax changes!

If you have a portfolio of or even a single rental property, the impact of the July 2015 budget will have been significant for you.
Now would be the best time to review your short and long term plans in relation to this element of your income and investment.
There was some good news for Rent a […]

By |November 4th, 2015|Personal Tax, Tax|0 Comments