Tax Blog

IHT: Main residence nil-rate band – Overview

4 July 2016

The main residence nil-rate band represents an additional nil-rate band for an estate that includes an interest in a residential property which was used by the deceased as their residence at some point, and this is left to direct descendants (to include child, step-child, adopted child or foster child).

A Summary of the Changes to the Benefits and Expenses Regime from April 2016

27 April 2016

Following a review of the legislation governing benefits in kind and employee expenses by the Office of Tax Simplification, there have been four major changes introduced from 6 April 2016.

Life policies – Partial surrenders and Assignments – HMRC Consultation

26 April 2016

HM Revenue & Customs (HMRC) published a consultation on Wednesday (20 April 2016) proposing changes to the taxation of part surrenders and part assignments of life insurance policies.

Budget 2016

16 March 2016

It was a Budget with some significant surprise announcements and big changes that nobody had anticipated or envisaged. In my Budget 2016 Tax Blog I highlight the Corporation Tax and Capital Gains Tax changes as well as other measures including Stamp Duty Land Tax, Income Tax changes and much more.

Cash Extraction – All Change – 22/02/2016

The significant changes to the taxation of cash extraction from companies from 6 April 2016 could leave company shareholders with a large tax bill. The rate of income tax on dividend income across all of the income tax bands will increase by 7.5% so companies need to consider paying out dividends before this increase.

Happy New (Tax) Year – Year-end tax planning checklist! – 17/02/2016

As we are on the verge of bidding farewell to the 2015/16 tax year it is worth taking stock and considering your 2015/16 tax position, before checking whether to implement any year-end planning. I touch on some specific points for serious consideration in this blog.

Urgent – Significant tax changes – Cash extraction from companies – 16/02/2016

The taxation of cash extraction from companies in some of its typical forms is changing significantly as of 6 April 2016. With only two months to go it is prudent to seriously consider the impact of these changes and whether you would like to take action in the short period of time before the end of the tax year.

Timing is everything! – 13/01/2016

As the character, Max Skinner, states in one of my favourite films (A Good Year) “The secret to riches is the same as the secret to comedy – timing”. This is also true of the availability of the capital allowances ‘Annual Investment Allowance’ for accounting periods straddling 1 January 2016.

Taxing times for landlords! – 08/01/2016

It has been well documented that George Osbourne has recently announced some significant changes to the taxation of landlords. In this blog I provide further information on the changes and explain they might impact on landlords.