Furniture Sofa

Withdrawal of wear and tear

  • 01 Mar 2016

As a landlord of furnished residential property you can currently claim a wear and tear allowance, equivalent to 10% of the rents you receive for each property. This annual deducti...

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Extra tax on your second

  • 01 Mar 2016

The Government wants to discourage people from buying homes for investment, so it is imposing a supplementary rate of Stamp Duty Land Tax (SDLT) on such purchases. This will also a...

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Construction

CIS returns online

  • 01 Mar 2016

The construction industry scheme (CIS) is a sort of parallel PAYE system for subcontractors in the construction industry. Contractors who pay subcontractors must make monthly CIS r...

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Trivial benefits

  • 01 Mar 2016

Sometimes words are not enough to express your thanks or congratulations: flowers, wine or chocolates are needed. But where the recipient is your employee, there is a risk that the...

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Travelling Food

Tax free meals while travelling

  • 01 Mar 2016

When your employees are working away from their main workplace, or on a business trip, you may reimburse them for the cost of meals they need to buy while they are away. There is n...

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Close that company

  • 01 Mar 2016

The dividend tax has been the last straw for many small company owners. This extra tax burden on top of the hassle of RTI and auto-enrolment makes operating the business through a...

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Couple Planning Pension

Restrictions on pension contributions

  • 01 Mar 2016

Your pension annual allowance (AA) is the maximum amount you and/or your employer can contribute to your pension fund in one tax year, without incurring tax charges. From 6 April 2...

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Planning Remuneration

  • 01 Mar 2016

The changes to personal tax, national insurance (NIC) and pension contribution in 2016-17 mean that you should review your remuneration strategy before the new tax year begins. Sal...

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Corporative Tax

Dividend Tax

  • 01 Mar 2016

The new dividend tax will increase the tax you pay on dividends by 7.5%, although the first £5,000 of dividends will be taxed at 0%. This change will affect different shareholders...

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