More recent posts
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Save tax using the dividend allowance
As previously reported from 6 April 2016, dividends of up to £5,000 can be received tax free. It doesn’t matter what rate of tax the individual pays on…
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Annexe reprieve?
In a previous post, A pain in the annexe! we noted the confusion that could arise in determining the correct level of Stamp Duty Land Tax (SDLT) payable…
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Cranfield University select Magma to speak at R&D Tax Seminar
Two of Magma’s corporate tax team (Jon Kicks and Victoria Tunaley) are this morning speaking at Cranfield Technology Park to an audience of regional businesses. They are sharing…
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The new “residence nil rate band” for inheritance tax is on the horizon – but will it work for you?
The new band starts off on 6 April 2017 at £100,000 per person and gradually rises so that by 6 April 2020 it will be up to £175,000.…
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Tax Deadline Date – 6 July 2016
The following tax deadlines are now fast approaching. 6 July 2016: Forms P9D, P11D and P11D (b) must be completed. 6 July 2016: PAYE settlement agreements for 2015/16…
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Trusts and Estates – Tax Returns for 2016/2017
Currently many small trusts do not have to file a self assessment tax return with HMRC. The new rules for banks and building societies to pay interest gross…
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Personal Savings Allowance – earn up to £1,000 savings interest tax-free
Millions of people will escape having to pay tax on savings interest from today, thanks to the Personal Savings Allowance (PSA). Basic rate taxpayers will have a PSA…
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Reform of the wear and tear allowance
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…
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Budget 2016
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…