More recent posts
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End of year tax planning opportunities
7 March 2013 The current tax year ends on 5 April 2013. In advance of this, individuals and businesses may wish to consider potential tax planning opportunities for…
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Congratulations to New Star Games
Magma is delighted that its client New Star Games picked up a BAFTA in the BAFTA Games Awards 2013 held at the London Hilton Hotel last night. It…
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Child Benefit changes come into force
The controversial changes to Child Benefit and new High Income Child Benefit Charge come into force from today. The changes are expected to affect over one million families. Over 250,000…
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Business investment relief for non UK domiciled individuals
28 November 2012 Finance Act 2012 introduced the new business investment relief for the remittance to the UK of overseas income and gains by non UK domiciled individuals…
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Cap on unlimited Income Tax reliefs
22 November 2012 A range of tax reliefs available against income are to be brought under a cap from 6 April 2013. This may significantly limit tax savings…
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High Income Child Benefit Charge – will your family be affected?
15 October 2012 From 7 January 2013 the High Income Child Benefit Charge takes effect. Couples where at least one partner has high income may suffer extra income…
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Preparation for auto-enrolment
30 September 2012 The Government is introducing auto-enrolment, a compulsory requirement for employers to enrol employees into a workplace pension scheme. Auto-enrolment commences for large employers from October…
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Over half of employees unaware of auto-enrolment
According to research by Scottish Widows, 52% of employees are unaware of auto-enrolment, which starts for larger companies in October. Auto-enrolment is new pension legislation, introduced by Pensions…
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HMRC deadline for higher rate taxpayers
HMRC have issued letters to thousands of higher rate taxpayers who have failed to submit tax returns reminding them that they have until 2 October 2012 to get…