personal taxatation Archives - Page 31 of 52 - Whitefield Tax - Isle of Wight Accountants

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...

Probate fees may rise

by Jessica Garbett | Mar 23, 2017 | ACCA, capital taxation, personal finance, personal taxatation

Government says reforms would improve efficiency and generate around £300m. The government has responded to the consultation ‘to reform fees for grants of probate’. It expects that these changes should be one step ahead to increase efficiency and deliver a better...

All change for employee shareholder agreements

by Jessica Garbett | Mar 20, 2017 | ACCA, business taxation, capital taxation, personal taxatation

Income tax relief and CGT exemption on shares to end. The income tax reliefs and capital gains tax (CGT) exemption will no longer be available with effect from 1 December 2016 on any shares acquired in consideration of an employee shareholder agreement entered into on...

Restrictions to relief for finance costs on residential properties

by Jessica Garbett | Mar 17, 2017 | ACCA, personal taxatation, property taxation

New measures from HMRC will see interest payable on loans relating to income from residential properties. 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...

New Trading and Property Allowance £1,000

by Jessica Garbett | Mar 16, 2017 | business taxation, personal taxatation, property taxation

From 6th April 2017, there is an exemption from registering for Self Assessment if you either: Turnover less than £1,000 from Self Employment Have rental income, before expenses, of less than £1,000 If you have turnover or rental income of over £1,000 then you can...

Landlords under MTD

by Jessica Garbett | Mar 16, 2017 | ACCA, personal taxatation, property taxation

How will landlords be affected by making tax digital? Below are extracts from the options for landlords under MTD which impact the 2017/18 tax year. Landlords with under £150,000 turnover will use the cash basis rather than generally accepted accounting practice...

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Personal savings allowance offers a boost

Probate fees may rise

All change for employee shareholder agreements

Restrictions to relief for finance costs on residential properties

New Trading and Property Allowance £1,000

Landlords under MTD

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