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Archive for the "Government Announcements" Category

The Scottish Government has issued a consultation on Scottish Cha...

22nd January | Posted in: Charity, Company News, Government Announcements

The Scottish Government has made a flying start to the new year by publishing a consultation on proposed reforms to Scottish charity law.   The consultation can be found here Scottish Charity Law ...

Scottish Budget 2019/20

20th December | Posted in: Business Tax, Company News, Government Announcements, Personal Tax, Property Investment

Derek Mackay MSP, the Scottish Cabinet Secretary for Finance delivered his draft Scottish Budget for 2019/20 0n 12 December 2018.  The main budget proposals are  as follows:- Personal Tax There are ...

apprentices

How much should I pay my apprentices?

11th December | Posted in: Government Announcements, Payroll, Regulations

The Government are currently running a campaign advising apprentices to check their pay and complain if they are not being paid correctly.  Data shows that almost one fifth of apprentices at Level tw...

VAT registration limit continues to be frozen

10th December | Posted in: Business Tax, Government Announcements, VAT

The VAT registration limit normally increases inline with inflation each year.  However, it was announced last year that the limit would be frozen at £85,000 until 1 April 2020. It has now been ann...

Research & Development (R&D) tax credit to be restricte...

7th December | Posted in: Business Tax, Government Announcements, Planning

The amount of repayable R&D tax credit for Small and Medium Sized Enterprises (SMEs) will again be restricted by the amount of the claimant company’s PAYE and NIC liability from 1 April 2020. Th...

IR35 “Off-Payroll” rules to be extended to private sector...

28th November | Posted in: Business Tax, Government Announcements, IR35

Very controversially, but as expected,  the Government has decided to extend the rules for personal service companies in the public sector to personal service companies in the private sector from Apr...

Personal allowance and UK higher rate tax limit increased early...

26th November | Posted in: Allowances, Government Announcements, PAYE & NI, Personal Tax, Planning

The UK Government’s manifesto pledge back in 2015 was that the personal allowance would rise to £12,500 in 2020 and the higher rate tax threshold to £50,000. The Chancellor announced in his recent...

Other UK budget news

26th November | Posted in: Business Tax, Government Announcements, Pensions, Savings & Investments, Personal Tax

The annual ISA investment limit increased to £20,000 from 6 April 2017 and remains at that level for 2019/20. Dividends on shares held within an ISA continue to be tax free As previously announced th...

No changes to UK tax rates and dividend tax

26th November | Posted in: Government Announcements, PAYE & NI, Personal Tax

The basic rate of income tax and higher rate remain at 20% and 40% respectively, and the 45% additional rate continues to apply to income over £150,000 for UK taxpayers. Note that Scottish tax rates ...

Pension complication!

8th November | Posted in: Government Announcements, Pensions, Savings & Investments, Planning

Cast your mind back to 6 April 2015 when the Government introduced a more flexible pension system.  From that date, anyone over age 55 could make unlimited withdrawals from their Defined Contribution...

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