Employers and advisers need to prepare for phase three of auto enrolment of workplace pensions, as the big increase in pension contributions is less than six months away. Minimum contributions On 6 April 2019 the minimum total workplace...
Read MoreLandlords fail to overturn HMRC’s information notices
HMRC issued information notices to two landlords who hadn’t declared income from their let properties. Andy Keates explains why the challenges against those notices failed. Facts (in brief) The cases concerned information notices issued...
Read MoreInheritance tax take hits new high
A new HMRC report has revealed that inheritance tax receipts hit a record high of £5.2bn over the last financial year, increasing 8% (£388m) year-on-year during 2017/18. The report, released ahead of an OTS review of inheritance tax (IHT) rules...
Read MoreNon-resident trust error leaves some out of pocket
Non-resident trustees may have potentially overpaid tax for 2016/17 because HMRC didn’t take into account the 7.5% dividend tax credits they are entitled to, BTCSoftware has warned. From April 2016, non-resident trustees are entitled to a 7.5%...
Read MorePersonal allowance increase
Philip Hammond supported his much-vaunted pledge that ‘austerity is coming to an end’ by bringing forward the government’s increase to the personal allowance a year earlier than planned. The Chancellor waited until the end of the speech to unveil...
Read MoreEntrepreneurs’ relief curtailed
Investors who hold shares with restricted rights have lost access to entrepreneurs’ relief, as the definition of a “personal company” for that relief was revised from Budget Day. For entrepreneurs’ relief to apply to gains arising from the...
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