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Born before 6 April 1935?

  • Posted On: 29 November 2017
Born before 6 April 1935? The married couple's allowance (MCA) is available to elderly married couples or those in a civil partnership where at least one member of the couple were born before 6 April 1935. The allowance provides for tax relief by deducting 10% of the

Paying National Insurance at State Pension Age?

  • Posted On: 29 November 2017
Paying National Insurance at State Pension Age? The State Pension age has been increasing since April 2010. The changes will see the State pension age gradually rise to 65 for women between 2010 and 2018, and then to 66, 67 and 68 for both men and women by 2039. There are now many taxpayers that

Tax on property, money and shares you inherit

  • Posted On: 29 November 2017
Tax on property, money and shares you inherit As a general rule, someone who inherits property, money or shares is not liable to pay tax on the inheritance. This is because any Inheritance Tax (IHT) due should be paid out of the deceased's estate before any cash or assets are distributed to the

Advisory fuel rates for company cars

  • Posted On: 29 November 2017
Advisory fuel rates for company cars The latest advisory fuel rates became effective on 1 December 2017. Fuel rates are reviewed four times a year with changes taking effect on 1 March, 1 June, 1 September and 1 December. You can use the previous rates for up to 1 month from the date

Finance (No.2) Act 2017 receives Royal Assent

  • Posted On: 28 November 2017
Finance (No.2) Act 2017 receives Royal Assent The Finance (No. 2) Act 2017 received Royal Assent on 17 November 2017. It follows the Finance Act 2017 which received Royal Assent before the June 2017 general election. Some of the provisions were dropped from the Finance Act 2017 so that it could

The ICO publishes Guide to the General Data Protection Regulation

  • Posted On: 28 November 2017
The ICO publishes Guide to the General Data Protection Regulation The Information Commissioner's Office (ICO) has replaced its Overview of the General Data Protection Regulation with a 58-page “Guide to the General Data Protection Regulation (GDPR)”. The Guide contains very similar content to the Overview, but it

Tax Diary December 2017/January 2018

  • Posted On: 27 November 2017
Tax Diary December 2017/January 2018 1 December 2017 - Due date for corporation tax due for the year ended 28 February 2017. 19 December 2017 - PAYE and NIC deductions due for month ended 5 December 2017. (If you pay your tax electronically the due date is 22 December 2017) 19

Autumn Budget 2017 – SDLT for first-time buyers

  • Posted On: 23 November 2017
Autumn Budget 2017 – SDLT for first-time buyers As the Chancellor, Philip Hammond alluded to in his Budget speech there had been much speculation in the press that he would do something to alleviate the Stamp Duty Land Tax (SDLT) burden for first time buyers. However, he went a step further by

Autumn Budget 2017 - VAT registration and deregistration thresholds

  • Posted On: 23 November 2017
Autumn Budget 2017 - VAT registration and deregistration thresholds The taxable turnover threshold, that determines whether businesses should be registered for VAT, will be frozen at £85,000 for 2 years from 1 April 2018. The taxable turnover threshold that determines whether businesses can apply for deregistration

Autumn Budget 2017 – Income Tax Rates & Allowances

  • Posted On: 23 November 2017
Autumn Budget 2017 – Income Tax Rates & Allowances The Chancellor has confirmed that from 2018-19 the personal allowance will increase to £11,850 (an increase from the current £11,500) and the basic rate limit to £34,500. As a result, the higher rate threshold will increase to £46,350 from April