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New legislation will place greater emphasis on previously decided tax cases

by Jessica Garbett | Apr 10, 2014 | ACCA, budget, business taxation, HMRC, personal taxatation

Contributed by ACCA, in their own words New legislation will place greater emphasis on previously decided tax cases. Legislation is to be introduced that will give HMRC the power to issue a notice to a taxpayer to the effect that a previously decided case also...

Goodbye to PTS – The Statutory Sick Pay Percentage Threshold Scheme will be replaced by the Health and Work Service

by Jessica Garbett | Apr 1, 2014 | ACCA, employer returns, personal taxatation

Contributed by ACCA, in their own words The Statutory Sick Pay Percentage Threshold Scheme will be replaced by the Health and Work Service. Under current legislation the Percentage Threshold Scheme (PTS) provided a measure of compensation for employers faced with high...

Budget 2014 – Starting tax rate for savings

by Jessica Garbett | Mar 25, 2014 | ACCA, budget, personal taxatation

Contributed by ACCA, in their own words Starting tax rate for savings From 6 April 2015, the starting tax rate for savings will be reduced from 10% to zero, and the limit will be increased from £2,880 to £5,000. This measure will benefit those people who have only...

Budget 2014: Changes to personal allowances for basic and higher rate taxpayers revealed

by Jessica Garbett | Mar 21, 2014 | ACCA, budget, HMRC, personal taxatation

Contributed by ACCA, in their own words Changes to personal allowances for basic and higher rate taxpayers revealed. As already announced, for 2014/15 the personal allowance will be £10,000. It has now been announced that this will increase further to £10,500 in...

Annual investment allowance – transitional rules

by Jessica Garbett | Mar 20, 2014 | ACCA, business taxation, personal taxatation

Transitional rules are the latest development surrounding the annual investment allowance. The annual investment allowance (AIA) was introduced in 2008 to encourage businesses to invest in capital equipment. Under the regime, businesses may claim capital allowances of...

Investment properties held by individuals

by Jessica Garbett | Mar 14, 2014 | ACCA, personal finance, personal taxatation

Find out how the accounting treatment of investment properties held by individuals has changed.  Individuals who hold investment properties and receive rental income need to disclose the rental income on their tax returns. Until 5 April 2013 this had to be done using...
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