Read Lindsey's briefings on the latest changes in the pensions world and updates for all Entrepreneurs. Also, don't forget to check out some of Lindsey's previous blogs as these may still have an impact on your financial portfolio.
Newspage
Autumn statement 29th November 2011
SEIS Relief
From April 2012 specifically focussed on start up companies, the Seed Enterprise Investment Scheme relief will come into effect. Investors will be given up to 50% income tax relief on…
Spain - wealth tax to be introduced
Determined to meet its ambitious fiscal deficit reduction targets, Spain’s government recently voted in favour of plans to reintroduce wealth tax.
Suspended in 2008, the government now aims to…
Proposed statutory residence test
The Government has published a consultation document proposing the introduction of a statutory definition of tax residence for individuals. The stated purpose for introducing such a rule is to…
UK : Switzerland Tax Agreement
The UK and Switzerland yesterday published the first details of their long-awaited tax agreement for UK residents with accounts in Switzerland (the “Agreement”).
Subject to ratification by the two…
New Late Filing and payment penalties
From 6 April 2011, if your tax return is not filed in time the penalties you will have to pay are increasing, as follows:
• One day late - an initial penalty of £100 will be charged, even if there…
Budget 2011 Summary
• A 1 penny per litre cut in fuel duty from 6pm 23 March 2011.
• An increase in the HMRC approved mileage rates, (the first in 14 years), will allow employers to increase the rates they pay their…
US Tax Update
The IRS yesterday announced a new 'offshore' voluntary disclosure initiative aimed at noncompliant US taxpayers with unreported 'offshore' bank accounts.
IRS investigators have been tracking the…
Big Changes in the pensions' world ?
Her Majesty’s Revenue and Customs (HMRC) have recently released a couple of consultation papers on pension provision, proposing the following:
• Removing the requirement to annuitise by age 75: The…
Entrepreneurs' relief
The initial conditions for Entrepreneur’s Relief were that the taxpayer needed to own 5% of shares in a firm, with a lifetime relief limit of £1m which could be claimed. In the March 2010 Budget, the…
Budget Overview June 22 2010
Capital allowances
The Government has announced that the rates of writing-down allowances (WDAs) for new and unrelieved expenditure on plant and machinery will be reduced:
• from 20 per cent to 18 per…
Budget Overview June 22 2010
Pensions
• Annuities
The Coalition's Programme for Government announced the intention to remove the requirement for pensioners to buy annuities at 75 and the Budget introduced the first step towards…
Budget Overview June 22 2010
Furnished holiday lettings
The previously announced decision to abolish the tax reliefs for furnished holiday lettings is to be reversed.
The Government will publish a public consultation over the…
Budget Overview June 22 2010
Income tax
The personal allowance for those aged under 65 will be increased to £7,475 in 2011/12, from £6,475 in the current year. Those aged over 65 already have an annual exemption of £9,490 and…
2010 Budget - Alert
Election 2010 - Alert
The uncertainty as to who will govern the country is over, with the announcement of a Conservative-Liberal Democrat coalition.
What action should taxpayers take now to try to…
2010 Budget Briefing - NICs
NICs Rates and Thresholds
For 2010-2011, with just 2 exceptions, all NICs rates and thresholds are unchanged from the current year 2009-2010.
For 2011-2012, in addition to the 0.5% increases already…