Cottage

Letting holiday cottages

  • 01 Jun 2016

Many farms and landed estates include cottages which are let as furnished holiday accommodation. In the unpredictable British summer, such lettings can frequently turn a loss rathe...

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Couple Planning Pension

Maximising your state pension

  • 01 Jun 2016

To receive the full state pension you need to build up 35 qualifying years of national insurance contributions (NIC) or to receive NI credits. If you have at least 10 qualifying ye...

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Property

Property

  • 01 Apr 2016

SDLT – commercial Stamp duty land tax (SDLT) was reformed for residential property purchases from 4 December 2014, this month it was the turn of SDLT on commercial properties to...

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Capital Gains

  • 01 Apr 2016

Rates Capital gains tax is to be cut from 28% to 20% for higher rate taxpayers and from 18% to 10% for basic rate taxpayers with effect from 6 April 2016. However, gains made on bu...

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VAT

VAT

  • 01 Apr 2016

Thresholds The compulsory VAT registration threshold will rise to £83,000 on 1 April 2016, and the deregistration threshold will increase from £80,000 to £81,000. VAT evasion Th...

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Corporation Tax

Corparation Tax

  • 01 Apr 2016

Rates All sizes of company in the UK pay corporation tax at the main rate of 20% (except in the oil and gas sectors). The main rate will drop to 19% on 1 April 2017 and to 17% on 1...

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Business

National Insurance

  • 01 Apr 2016

Self-employed Self-employed individuals currently pay Class 2 NIC at a flat rate of £2.80 per week and Class 4 NIC at the rate of 9% on profits over £8,060 and 2% on profits over...

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Employees

  • 01 Apr 2016

Company car tax The benefit in kind charge for having private use of a company car continues to increase. Figures published in t h e Budget set out the charges for 2019-20, to info...

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Lifetime ISA

  • 01 Apr 2016

From April 2017, individuals between the ages of 18 and 40 will be able to open a Lifetime ISA (LISA) and save up to £4,000 a year. For savings made up to the age of 50, the Gover...

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Personal Taxes

  • 01 Apr 2016

Allowances The tax-free personal allowance has been set at £11,000 for 2016-17; it will rise to £11,500 for 2017-18. The Government intends to increase the personal allowance to...

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