Yesterday saw a budget that focused, as expected, on housing and a stormy economic forecast. Our full summary is available on our website, but the key tax developments are summarised below. Personal Tax Rates and Allowances The personal allowance is currently £11,500 and will increase to £11,850 in April 2018. The higher rate threshold similarly… Continue reading Autumn Budget 2017
Now the Self Assessment season has passed, it seems a good time for a quick update on the changes coming up in April 2016. None of this is new, but it comes from various Budgets and Autumn Statements (the Government like to keep us on our toes by announcing lots of changes at the same… Continue reading What Changes in April 2016? (Part 1 – Personal Tax)
George Osborne has indicated that tax information will have to be filed four times a year as part of a "digital revolution" at HMRC. Business owners, self-employed workers & landlords will be expected to file their information online from 2020 in a move which the Government estimates will raise an additional £600m a year by… Continue reading Tax Returns to be filed four times a year?
On Wednesday 25 November the Chancellor George Osborne presented the first Autumn Statement of this Parliament along with the Spending Review. His speech and the supporting documentation set out both tax and economic measures, however the primary focus seems to have been on the Spending Review, rather than the Autumn Statement, which will hopefully make… Continue reading Autumn Statement & Spending Review
On Thursday 5 December, Chancellor George Osborne gave his 2013 Autumn Statement outlining a number of developments in key areas of tax.Personal Allowance for 2014/15For those born after 5 April 1948 the personal allowance will be increased from £9,440 to £10,000. When the current Government came into power in 2010 the personal allowance was £6,475… Continue reading Autumn Statement 2013