personal taxatation Archives - Page 29 of 52 - Whitefield Tax - Isle of Wight Accountants

Taxation of pension benefits

by Jessica Garbett | Aug 23, 2017 | ACCA, pensions, personal taxatation

The key points to consider when looking at how inherited pension pots are taxed. When a member of a pension scheme dies the pension pots relating to that person may be passed on to living individuals. Often a member of a pension scheme will start to draw their...

Tax treatment of Banco Santander rights issue

by Jessica Garbett | Aug 21, 2017 | ACCA, personal finance, personal taxatation

Advice on how to treat tax on last month’s share issue. Santander shareholders were able to subscribe one new share for every 10 shares they held at a price of 4.85 euros per share. Shareholders who wished to exercise their right to subscribe shares were allowed to do...

Are you using your £7,500 rent-a-room allowance?

by Jessica Garbett | Jul 3, 2017 | ACCA, personal taxatation, property taxation

Airbnb, bed-and-breakfast and guest accommodation could qualify The Summer Budget 2015 introduced, with effect from 6 April 2016, an increase in the level of rent-a-room relief from £4,250 to £7,500 per year. This provides for tax-free income that can be received from...

Tax efficient cash extraction from businesses

by Jessica Garbett | May 31, 2017 | ACCA, business taxation, personal taxatation

When to charge a company rent and mortgage interest. With the recently announced reduction of the tax free dividend allowance to a modest 2k next year, many practitioners will be interested to explore other avenues of tax efficient cash extraction still available to...

Major amendments to the Finance Bill

by Jessica Garbett | May 10, 2017 | ACCA, budget, business taxation, HMRC, personal taxatation, politics

Next month’s General Election has resulted in changes to the Finance Bill. Read our summary now. When Members of Parliament backed the motion by 522 to 13 on holding an early General Election on Thursday 8 June under the Fixed-Term Parliaments Act, one of the...

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...

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Taxation of pension benefits

Tax treatment of Banco Santander rights issue

Are you using your £7,500 rent-a-room allowance?

Tax efficient cash extraction from businesses

Major amendments to the Finance Bill

Interest on loans from residential property income

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