Archive for the ‘Tax & Tax Planning’ Category

Are You Taking Full Advantage of the Tax Savings that Pensions Offer?

Well done if you’re reading this article. According to statistics, self-employed individuals have an unfortunate habit of ignoring their future retirement. Apparently, less than one third of self-employed people save into a private pension. Given the UK’s self-employment rate is booming, and we currently have 4.8 million self-employed in the country, that’s a scary number[…] Read more »

Landlords and Mortgage Interest Tax Changes explained

Many landlords are going to see an increase in taxes as a result of the summer budget, when the chancellor announced his plans to reduce higher rate mortgage interest tax relief for landlords. Mortgage interest relief at source was withdrawn from homeowners 15 years ago, however, landlords still receive the relief. The budget document concluded[…] Read more »

The New Dividend Rules Explained

There were significant changes from the conservatives in the summer budget, when George Osborne announced that the current dividend tax system was to be replaced. He labelled the current taxation system as very complex, archaic and that a simplification of the taxation of dividends was well overdue. The chancellor also inferred, that those who either[…] Read more »

Budget Changes for Inheritance Tax including your Family Home

As revealed in the summer budget 2015, the chancellor has increased the inheritance threshold (IHT) bringing substantial inheritance tax savings particularly for those people at the top end of the property market. The inheritance tax threshold is set to increase from £650,000 to £1 million for couples passing on the family home to their children[…] Read more »

Collecting Unpaid Tax through your Tax Code – One to watch out for…

Changes scheduled for 6th April 2015 will allow the tax office (HMRC) to collect tax debts more aggressively. Currently, HMRC can collect tax debts of up to £3,000 by adjusting your Pay As Your Earn (PAYE) tax code. This is known as “coding out”. Deductions for unpaid taxes taken through the coding out system allows[…] Read more »


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