January 2016 - Page 2 of 2 - Whitefield Tax Limited - Isle of Wight Accountants

Scottish rate of income tax

by Jessica Garbett | Jan 12, 2016 | ACCA, employer returns, personal taxatation

This Content Was Last Updated on February 9, 2017 by Jessica Garbett HMRC preparing to issue tax codes beginning with an S. The Scottish government will publish its Budget on 16 December 2015. It will include proposals for the Scottish rate of income tax, which...

Self Assessment: What determines whether HMRC issues a statement and payslip?

by Jessica Garbett | Jan 11, 2016 | ACCA, business taxation, HMRC, personal taxatation

This Content Was Last Updated on February 9, 2017 by Jessica Garbett HMRC will issue a paper statement and a payslip (providing the person has not opted for digital only communications from HMRC) to individuals who file a self assessment return before midnight on 31...

Dividend waivers and settlement legislation

by Jessica Garbett | Jan 7, 2016 | ACCA, business taxation, personal taxatation

Dividend waivers can be an effective tool in tax planning – if executed correctly. A dividend is a payment from a limited company’s profits to its shareholders. The amount each shareholder receives will depend on the percentage they own in the company. When a...

Deducting Interest on Qualifying Loans

by Jessica Garbett | Jan 6, 2016 | ACCA, business taxation, personal taxatation

Under Income Tax Act 2007 (ITA) s383, interest paid on ‘qualifying loans’ is deductible in the tax computation. Interest is deducted first from non-savings income, then from interest on income and the remaining amount will be set against any dividend income. Relief is...

The last tax return?

by Jessica Garbett | Jan 4, 2016 | ACCA, HMRC, personal taxatation

Is January 2016 the last fixed tax submission date? The government has announced that ‘by early 2016 five million small businesses and ten million individuals will have access to their own digital tax account, and by the end of the next Parliament every individual and...

Next Entries »

Scottish rate of income tax

Self Assessment: What determines whether HMRC issues a statement and payslip?

Dividend waivers and settlement legislation

Deducting Interest on Qualifying Loans

The last tax return?

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