The current annual pension limit remains at £40,000. In addition, unused relief from the previous three tax years may be utilised once the current £40,000 limit has been used. However, the relief
The current ISA allowance is £15,240, rising to £20,000 for 2017/18. Remember that there is no longer a 50% restriction on the amount that you can invest in a cash ISA; the
From April 2017, adults under the age of 40 will be able to open a Lifetime ISA (LISA) and pay in up to £4,000 each tax year. They will be able to
In order to qualify for CGT entrepreneurs' relief on the disposal of shares, the shareholder must have been an officer or employee of the trading company or group throughout the twelve months
Entrepreneurs' Relief reduces the rate of CGT to 10% on the first £10 million of gains on the disposal of qualifying business assets. This would include sole traders disposing of their business
The Treasury Select Committee has reviewed the proposals for the introduction of “Making tax digital” (MTD) and have agreed with the various professional bodies that if the new systems are introduced too quickly
Date What’s Due 1/01 Corporation tax payment for year to 31/3/16 (unless quarterly instalments apply) 19/01 PAYE & NIC deductions, and CIS return and tax, for month to
These are the suggested reimbursement rates for employees' private mileage using their company car from 1 December 2016. Where there has been a change the previous rate is shown in brackets. Engine
As covered in the Autumn Statement newsletter a new VAT flat rate of 16.5% applies from 1 April 2017 for “limited cost traders”. This is being introduced as HMRC believe that the
One of the features of the new inheritance tax rules for passing on the family home is that the relief is protected even when you downsize to a smaller property. For example
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