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Archive for the "Personal Tax" Category

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 ...

Entrepreneurs’ relief changes

6th December | Posted in: Business Tax, Personal Tax, Planning

The Chancellor has announced two changes to Capital Gains Tax entrepreneurs’ relief:- The minimum qualifying holding period for entrepreneurs’ relief will be increased from 12 months to 24 months ...

Capital gains tax – Principal private residence relief (PPR) ch...

28th November | Posted in: Personal Tax, Properties, Property Investment

Changes to Principal private residence relief (PPR) will take effect from April 2020: The final period exemption allowing PPR For the last 18 months of ownership, provided that the property was a prin...

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 Tax Charges and ‘Scheme Pays’

13th November | Posted in: Pensions, Savings & Investments, Personal Tax, Planning

This is the third blog in our pension series and looks at pension tax charges. Let’s consider the position where a taxpayer, even after considering carry forward allowances, has still over-contribut...

newsletter

October 2018 E-Newsletter

5th November | Posted in: Company News, PAYE & NI, Personal Tax, Planning

Welcome to this month’s E-Newsletter which includes a great blog from Jenny, who has recently returned from maternity leave, giving her views on returning to work. Moving to the next stage, we also ...

There may be tax to pay on your dividends in January 2019

30th October | Posted in: Company News, Personal Tax, Planning

The rules for taxing dividends changed radically from 6 April 2016 with the removal of the 10% notional tax credit and the introduction of new rates of tax on dividends and the dividend allowance of ...

You may have to pay tax if your pension contributions are too hig...

21st September | Posted in: Pensions, Savings & Investments, Personal Tax, Planning

If your pension savings are more than your annual allowance for the tax year, and you do not have unused personal pension annual allowances from the 3 previous tax years to cover the difference, you w...

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