From 6 April 2016 property landlords will no longer be able to claim the wear and tear allowance in calculating their taxable profits from the rental of furnished rental accommodation. The allowance, calculated as (broadly) 10% of rental income, will be replaced by a new statutory relief for the costs of replacing furniture, furnishings, appliances […]
George Osborne’s 2016 Budget was delivered with the now familiar undertones of stability, sustainability and long term prosperity. Headlined as the “Budget for the next generation”, private businesses and working people of today also have some reason to be cheerful. Please
The Pension Regulator has published the latest auto enrolment report containing the most recent figures on how employers are meeting their new legal duties. An increasing number of smaller employers are now coming up to the date when they are required to automatically enrol their staff into workplace pensions (their staging date). Up to 500,000 […]
From 6 April 2016, dividends of up to £5,000 can be received tax free. Whilst this may appear good news, this allowance is introduced at the same time as a 7.5% tax increase for all dividends not falling within the £5,000 limit. As a result of the impending rate increase, you may wish to consider […]
