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News Stories

Credit Card Sales Campaign

  • Posted On: 25 February 2016
Credit Card Sales Campaign The Credit Card Sales disclosure campaign offers individuals and businesses that accept credit and debit card payments the opportunity to bring their tax affairs up to date with HMRC and take advantage of the best possible terms. Any individual or

Insurance Premium Tax increases

  • Posted On: 25 February 2016
Insurance Premium Tax increases Insurance Premium Tax (IPT) is a tax on general insurance premiums. There are currently two rates: a standard rate of 9.5% and a higher rate of 20%. The higher rate applies where insurance is sold in relation to goods and services which are subject

RTI reporting rules

  • Posted On: 25 February 2016
RTI reporting rules The vast majority of employers are now reporting their PAYE information in real time. In April 2014, a two year temporary reporting relaxation was put in place for micro employees (defined as employers with nine or less employees). The extension

Higher rates of SDLT on residential property

  • Posted On: 25 February 2016
Higher rates of SDLT on residential property The Royal Institution for Chartered Surveyors (RICS) is reporting a surge in buy-to-let investors ahead of the introduction of a new higher rate of Stamp Duty Land Tax (SDLT). The higher rates will apply to the purchase of additional residential

London Help to Buy scheme launched

  • Posted On: 25 February 2016
London Help to Buy scheme launched The government’s flagship Help to Buy schemes were launched in October 2013 and since then more than 130,000 homes have been bought across the country. Earlier this month, the London Help to Buy scheme was launched. The scheme is an extension of the

Dividend taxation changes

  • Posted On: 25 February 2016
Dividend taxation changes As part of the Summer Budget measures, the government announced the introduction of a new dividend allowance from April 2016. The new allowance will replace the current non-refundable dividend tax credit of 10% and will mean significant changes to

Beneficial loan arrangements

  • Posted On: 18 February 2016
An employee can obtain a benefit when provided with an employment-related cheap or interest-free loan. The benefit is the difference between the interest the employee pays, if any, and the commercial rate the employee would have to pay on a loan

The Asian Infrastructure Investment Bank

  • Posted On: 18 February 2016
The Asian Infrastructure Investment Bank The Asian Infrastructure Investment Bank (AIIB) is a new international financial institution. The purpose of the bank is to drive infrastructure projects in transportation, energy, telecommunications and other infrastructure across Asia. The AIIB

Tour Operators Margin Scheme

  • Posted On: 18 February 2016
Tour Operators Margin Scheme The Tour Operators’ Margin Scheme (TOMS) is a special scheme that allows businesses to avoid having a VAT registration in each EU jurisdiction where they provide travel services and packages. The supply of qualifying travel is taxable at the standard

Benefits in kind threshold

  • Posted On: 18 February 2016
Benefits in kind threshold The £8,500 benefits in kind (BiKs) threshold for employees who earn less than £8,500 a year is to be abolished from 6 April 2016. For employers this means that expenses and benefits will be reported on the P11D form and the P9D form will be