March 2017 - Whitefield Tax - Isle of Wight Accountants

The pitfalls of incorporating a letting business

by Jessica Garbett | Mar 31, 2017 | ACCA, business taxation, property taxation

Transferring properties to a limited company has tax consquences. With 6 April fast approaching, many property landlords, especially those planning to expand their portfolios, will be wondering whether it is better to incorporate. The obvious advantages of...

Benefits reporting: no more remuneration limit

by Jessica Garbett | Mar 30, 2017 | ACCA, employer returns

This Content Was Last Updated on April 4, 2020 by Jessica Garbett The benefits code now applies to directors and employees. As the tax year comes to an end it is worth remembering that there is no longer an £8,500 remuneration limit. The benefits code applies to...

Residential IHT nil-rate band increases

by Jessica Garbett | Mar 29, 2017 | ACCA, capital taxation

Changes could lead to a saving of up to £140,000. When the government increased the nil-rate band in 2009 to £325,000, it forecast that it would remain the same until 5 April 2021. But in the summer Budget 2015, the government announced it would phase in a new...

VAT thresholds – and other changes

by Jessica Garbett | Mar 28, 2017 | ACCA, budget, VAT

Increases could delay VAT registration for 4,000 small business. From 1 April 2017 the VAT registration threshold will increase from £83,000 to £85,000 and the deregistration threshold from £81,000 to £83,000, in line with inflation. Also, the registration and...

Non-dom IHT changes come into force

by Jessica Garbett | Mar 27, 2017 | ACCA, capital taxation

Changes bring tax treatment into line with UK-domiciled residents. We are on the verge of the implementation of the changes to the non-domicile (‘non-dom’) regime announced in the summer 2015 Budget. Until now, offshore companies, whose shares have been classed as...

« Older Entries

The pitfalls of incorporating a letting business

Benefits reporting: no more remuneration limit

Residential IHT nil-rate band increases

VAT thresholds – and other changes

Non-dom IHT changes come into force

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