ACCA Archives - Page 144 of 200 - Whitefield Tax - Isle of Wight Accountants

Cash basis increase for all

by Jessica Garbett | Apr 4, 2017 | ACCA, business taxation

The threshold for unincorporated businesses will be £150,000. Legislation will come into force on 6 April, with effect for the tax year 2017/18, which will increase the threshold for the cash basis from £83,000 (cash basis threshold for 2015/16) to £150,000. The exit...

Personal savings allowance offers a boost

by Jessica Garbett | Apr 3, 2017 | ACCA, personal finance, personal taxatation

Taxpayers can now earn £500-£1,000 in savings income tax-free. From 6 April 2016, basic rate taxpayers can earn up to £1,000 in savings income tax-free. Higher rate taxpayers can earn up to £500. These are the Personal Savings Allowance. Savings income includes...

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

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 directors and employees. Also, from 6 April 2016 all dispensations...

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...

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Cash basis increase for all

Personal savings allowance offers a boost

The pitfalls of incorporating a letting business

Benefits reporting: no more remuneration limit

Residential IHT nil-rate band increases

VAT thresholds – and other changes

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