News and Updates

 

New SBA allowance and how it works

A draft legislation has been published by the government for the new structures and buildings allowance (SBA). While earlier announcements are confirmed, there are one or two surprises. How much tax relief can you expect? Who can claim? Most companies and...

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The new requirements for entrepreneurs’ relief

Changes to entrepreneurs’ relief announced at the 2018 Budget have now passed into law. How can you minimise the impact, and why might disposals in 2018/19 cause particular problems? Entrepreneurs’ relief recap Shareholders disposing of all or part of their shares in...

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Broadband vouchers for small businesses

As part of the Gigabit Broadband Voucher Scheme, small business can claim up to £3,000 against the cost of full fibre connection. This can either be individually or as part of a group project. Residents can also benefit from this scheme as part of a group project and...

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New payslip legislation for employers

Payslip legislation From 6 April 2019, employers will be required to provide all workers with a payslip and to show hours they worked on a payslip where the pay varies by the amount of time worked. The statutory right to receive itemised payslips will extended to all...

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New increase to pension contributions 2019/20

Pension Contribution change The automatic enrolment workplace pension scheme is set to increase from 6 April 2019. All employers with staff in a pension scheme must take action to ensure that at least the minimum amounts are being paid in to their pension scheme. The...

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National Minimum Wage Increase 2019/20

National Minimum wage As of 1 April 2019, the national living wage and the statutory national minimum wage for those aged 25 and over, will increase 4.9%, from £7.83 to £8.21 Chancellor Philip Hammond said in the October Budget that this will hand a full-time worker...

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Pension scammers!

Don’t let a scammer enjoy your retirement! With the increase of pension contribution soon arriving, don't let pension scammers enjoy your hard earned retirement. Scammers can be articulate and financially knowledgeable, with credible looking websites, testimonials and...

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New rent-a-room relief rules

In July 2018 HMRC proposed new legislation to limit the circumstances in which rent-a-room relief can be claimed. When and how will the new restriction apply? Rent-a-room recap Rent-a-room relief (RARR) allows anyone who lets all or part of their homes, say to a...

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Making the most of tax free allowances in 2017/18

There are now several allowances that apply to an individual’s income. The way that they interact mean that you can potentially receive £22,500 of tax-free income for 2017/18. How can you ensure you take maximum advantage? ALLOWANCES For 2017/18, the personal...

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