If you are provided with a car or a van by your employer, you will be liable to tax on the value of this benefit in kind, computed using somewhat complicated rules. There are exceptions to this rule, and one of them concerns cars or vans where private use is not allowed – and does […]
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Autumn 2015 Newsletter
Pensions – Maximising the Opportunities for Tax Relief – Autumn 2015
Entrepreneurs’ Relief – Autumn 2015
I CAN’T STOP MYSELF – PROHIBITING PRIVATE USE OF CARS AND VANS
Loans to Participators – When is a Repayment “Taxable”
It is now becoming clear how HMRC are enforcing the new rules relating to repayment of loans to shareholders in close companies introduced in 2013 – and they are taking a hard line.
Bad News for Landlords
The Chancellor’s Budget on 8 July announced a radical change in the way landlords of residential property will get relief for interest in future. The new rules apply to individuals and partnerships, not to limited companies, and they do not apply to the letting of furnished holiday accommodation or commercial property. According to the Tax Impact Note published on Budget Day, this is “to make the tax system fairer”.
The Second Budget 2015
No Chancellor can resist including a few surprises in his Budget, and George Osborne did himself proud, with major changes to the taxation on landlords and of dividend payments from limited companies.
Our summary covers these and other important announcements.
Tax Rates 2015-16 Updated
This has been updated for the changes to the AIA announced in the Chancellor’s speech on 8 July 2015.
The above information should not be used to make decisions in isolation without consulting a professional adviser.