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New EC consultation on aggressive tax planning

  • Posted On: 24 November 2016
New EC consultation on aggressive tax planning A new consultation has been launched by the European Commission to gather feedback on the need for new rules to deter promoters of aggressive tax planning schemes. The Commission is concerned with recent reports that have highlighted the way certain

Financial Services Compensation Scheme

  • Posted On: 24 November 2016
Financial Services Compensation Scheme The bank deposit guarantee limit is the amount of money that is guaranteed for savers in UK banks and building societies should the institution become insolvent. The Financial Services Compensation Scheme (FSCS) guarantee amount is currently £75,000

Low take-up of the marriage allowance

  • Posted On: 24 November 2016
Low take-up of the marriage allowance The marriage allowance came into force on 6 April 2015 and allows lower earning couples to share part of their personal tax-free allowance. Recently published figures have suggested that less than a quarter of the 4.2m couples eligible to make a

Autumn Statement 2016 – Income Tax Rates & Allowances

  • Posted On: 24 November 2016
Autumn Statement 2016 – Income Tax Rates & Allowances The Chancellor, Philip Hammond has confirmed the government’s commitment to increase the basic personal allowance to £12,500 and the higher rate threshold to £50,000 by the end of the current Parliament in 2020. As previously announced, from April

Autumn Statement 2016 - New Investment Bond

  • Posted On: 24 November 2016
Autumn Statement 2016 - New Investment Bond The Chancellor has announced that a new National Savings and Investments (NS&I) product called the NS&I Investment Bond will be launched. The new Investment Bond will offer a new market leading rate for savers who have been hard hit by low

Autumn Statement 2016 - The National Living Wage

  • Posted On: 24 November 2016
Autumn Statement 2016 - The National Living Wage The National Living Wage came into effect on 1 April 2016 and is currently set at £7.20 per hour. The National Living Wage is the minimum hourly rate that must be paid for those aged 25 or over. As part of the Autumn Statement, it has been

Autumn Statement 2016 – Corporation Tax

  • Posted On: 24 November 2016
Autumn Statement 2016 – Corporation Tax It had been rumoured that the new Chancellor, Philip Hammond would cancel his predecessors planned cuts to Corporation Tax. However, in his Autumn Statement speech, the Chancellor confirmed that the government would stick to the business tax roadmap

Autumn Statement

  • Posted On: 23 November 2016
Autumn Statement The new incumbent at number 11 Downing Street, Philip Hammond, had his first opportunity to show us what he had in mind for the UK economy when he presented his Autumn Statement on the 23 November. The usual rash of speculation pointed to easing the

Apprenticeship levy funding deal

  • Posted On: 17 November 2016
Apprenticeship levy funding deal The UK government has agreed a new funding deal for the upcoming apprenticeship levy for Scotland, Wales and Northern Ireland. The government has confirmed that Scotland will get £221m, Wales £128m and Northern Ireland £76m in the first year of the

Pension exit fees

  • Posted On: 17 November 2016
Pension exit fees The introduction of new pension freedoms in April 2015 has provided hundreds of thousands of people in the UK aged 55 and over new opportunities to be able to access their pension savings. The new rules allow the over 55’s new freedoms to access