News and Comment - Page 98 of 101 - Whitefield Tax - Isle of Wight Accountants

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...

The government plans to give HMRC the power to recover tax directly from debtors’ bank accounts

by Jessica Garbett | Apr 1, 2014 | ACCA, budget, HMRC

Contributed by ACCA, in their own words The government plans to give HMRC the power to recover tax directly from debtors’ bank accounts. The government plans to give HMRC the power to recover tax directly from debtors’ bank accounts where they owe more than £1,000...

Partnership and mixed membership

by Jessica Garbett | Mar 31, 2014 | ACCA, budget

Contributed by ACCA, in their own words Partnership and mixed membership Legislation will be introduced in the Finance Bill 2014 in relation to mixed membership partnerships to reallocate excess profits allocated to a non-individual partner to an individual partner...

Budget: LLPs in the spotlight

by Jessica Garbett | Mar 30, 2014 | ACCA, budget

Contributed by ACCA, in their own words. Under the Finance Bill 2014, salaried members of limited liability partnerships (LLPs) will become employees under certain conditions, while excess profits in mixed partnerships will be reallocated. It has been discussed,...

Why it pays to be on top of the minimum wage

by Jessica Garbett | Mar 30, 2014 | ACCA, business issues, National Minimum Wage and National Living Wage

Catch up on the latest developments surrounding the national minimum wage. It is hard to imagine now that until 1998 there was no such thing as a national minimum wage. Then the National Minimum Wage Act 1998 was published, and it required that all workers who worked...

Summer consultation coming on ways to improve the CIS.

by Jessica Garbett | Mar 28, 2014 | ACCA, budget, business taxation

Contributed by ACCA, in their own words Summer consultation coming on ways to improve the CIS. The government will consult in summer 2014 on options to improve the operation of the CIS for smaller businesses and to introduce mandatory online filing for contractors....

ECA increases for green technology

by Jessica Garbett | Mar 26, 2014 | ACCA, budget, business taxation

Contributed by ACCA, in their own words New legislation will extend the list of energy-saving and environmentally beneficial technologies and products that benefit from enhanced capital allowances. Legislation will be introduced in the Finance Act 2014 to update the...

Temporary increase sees AIA double to £500,000

by Jessica Garbett | Mar 25, 2014 | ACCA, budget, business taxation

Contributed by ACCA, in their own words Temporary increase sees AIA double to £500,000. Annual investment allowance was introduced in 2008 to encourage businesses to invest in capital equipment. Under the regime, businesses may claim capital allowances of 100% of the...

Proposed changes to employee share schemes

by Jessica Garbett | Mar 25, 2014 | ACCA, business issues, capital taxation

As part of the tax simplification procedures the government has proposed a number of changes to the rules for employee share arrangements. Share incentive schemes are seen by companies as an effective way of retaining employees in the short to medium term. In the...

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...

Seed Enterprise Investment Scheme made permanent

by Jessica Garbett | Mar 24, 2014 | ACCA, budget, capital taxation

Contributed by ACCA, in their own words The SEIS initiative to get equity investment into companies has been extended. The excellent SEIS initiative to get equity investment into companies like SEIS has been extended. SEIS was originally announced in the 2012 Budget...

Budget 2014 Changes to the VAT registration threshold and other business-related VAT matters.

by Jessica Garbett | Mar 24, 2014 | ACCA, budget, VAT

Contributed by ACCA, in their own words Changes to the VAT registration threshold and other business-related VAT matters. VAT registration threshold The VAT registration threshold will increase to £81,000, previously £79,000 and deregistration threshold will increase...

R&D Credits – Cashback for loss-making SMEs

by Jessica Garbett | Mar 23, 2014 | ACCA, budget, business taxation

Contributed by ACCA, in their own words Small and medium-sized enterprises that make a loss stand to benefit from an increase in research and development tax credits. The Chancellor announced an increase in the repayable research and development (R&D) tax credit...

Business Premises Renovation Allowance – Budget Changes

by Jessica Garbett | Mar 22, 2014 | ACCA, budget, business taxation

Contributed by ACCA, in their own words The Finance Act 2014 will clarify the scope of Business Premises Renovation Allowance. Business Premises Renovation Allowance (BPRA) is available to businesses that incur capital expenditure on bringing back into business use...

Corporation tax: changes ahead

by Jessica Garbett | Mar 21, 2014 | ACCA, budget

Contributed by ACCA, in their own words Continued reduction in the corporation tax rate, removal of associated company rules, creative industries tax relief and a tightening of group profits movement were Budget highlights. Rates As announced previously, the main...

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Next Entries »

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

The government plans to give HMRC the power to recover tax directly from debtors’ bank accounts

Partnership and mixed membership

Budget: LLPs in the spotlight

Why it pays to be on top of the minimum wage

Summer consultation coming on ways to improve the CIS.

ECA increases for green technology

Temporary increase sees AIA double to £500,000

Proposed changes to employee share schemes

Budget 2014 – Starting tax rate for savings

Seed Enterprise Investment Scheme made permanent

Budget 2014 Changes to the VAT registration threshold and other business-related VAT matters.

R&D Credits – Cashback for loss-making SMEs

Business Premises Renovation Allowance – Budget Changes

Corporation tax: changes ahead

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