business taxation Archives - Page 64 of 81 - Whitefield Tax - Isle of Wight Accountants

Interest on loans from residential property income

by Jessica Garbett | May 8, 2017 | ACCA, business taxation, personal taxatation, property taxation

A new measure will restrict relief for finance costs. This measure will restrict relief for finance costs on residential properties to the basic rate of income tax and will be introduced over four years from 6 April 2017. The measure will not affect companies renting...

Companies’ tax deductions to be limited

by Jessica Garbett | May 2, 2017 | ACCA, business taxation

Changes aim to align UK and non-UK schemes. From 6 April 2017 the following will apply: Where a foreign pension or lump sum is paid to a UK resident, 100% of the pension arising will be chargeable to UK tax (to the same extent as if they had been paid from a...

Scotland’s tax-setting powers increase

by Jessica Garbett | Apr 26, 2017 | ACCA, business taxation, personal taxatation

Scottish Parliament gains full control over residents’ income tax. From April 2017, the UK government will devolve further legislative powers to set income tax rates and thresholds applying to employment, pensions and property income (‘non-savings, non-dividends’...

Scottish tax rates come into force

by Jessica Garbett | Apr 25, 2017 | ACCA, business taxation, employer returns

Different rates now apply to taxpayers in Scotland. The Scottish Finance Bill 2017/18 has been passed by the Scottish Parliament, freezing the basic rate of income tax at 20%. It also freezes ‘the higher and additional rates at 40% and 45% respectively’, and...

NIC for self-employed to rise

by Jessica Garbett | Apr 7, 2017 | ACCA, budget, business taxation

Changes aim to align national insurance contributions and income tax. One of the significant features of the Budget is the changes for the self-employed. The nod to national assurance alignment and increases in national insurance contributions (NIC) will be...

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...

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Interest on loans from residential property income

Companies’ tax deductions to be limited

Scotland’s tax-setting powers increase

Scottish tax rates come into force

NIC for self-employed to rise

Cash basis increase for all

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