Yearly Archives: 2015

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Christmas gifts included on payslips?

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With Christmas just a few weeks away you should consider whether any gifts from your company to its employees need to be put through the December payroll. The most common gifts are cash, retail vouchers or food items, e.g. a … Continue reading

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Class 2 National Insurance Contributions

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For the tax year ending 5th April 2016 onwards, Class 2 NICs will be collected through Self Assessment. When individual Self Assessment Tax Returns are completed, the amount of Class 2 NICs due will be calculated based on the number … Continue reading

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National Minimum Wage Increase

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From Thursday, 1st October 2015, the adult National Minimum Wage (NMW) rate increases by 20 pence, from £6.50 to £6.70 per hour. The rate for 18 to 20 year olds will increase by 17 pence to £5.30 per hour, and … Continue reading

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Dividend Tax Hike

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Tax pundits have been telling us for many years that income tax on dividends would increase.  That moment finally arrived in the Summer Budget 2015 but we never thought it would be like this. Our beloved imputation system – designed … Continue reading

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How will the budget affect small businesses?

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George Osborne has delivered his seventh Budget as chancellor, the first for a majority Conservative government since November 1996.  Corporation Tax and the new National Living Wage were the main talking points for businesses from this July budget. Corporation Tax The … Continue reading

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Avoid the grandparent tax trap

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Millions of grandparents are investing on behalf of their grandchildren – but experts warn that many may not realise the tax implications. Each year, you can give up to £3,000 without incurring a potential future charge – but this is … Continue reading

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No £100 fine for late tax returns, says HMRC

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HM Revenue & Customs have announced that individuals and small businesses who missed the deadline for filing their tax returns for the 2013/14 tax year have been let off the £100 fine, affecting up to 890,000 people. They have said they want … Continue reading

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Fact or Fiction? General Election 2015: Party Policies on Taxation

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Now the general election is upon us, we thought it would be helpful to summarise how each party plans to make changes to UK taxation policy; it may fill in the gaps needed to make an informed decision. For those of … Continue reading

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