Reduction In The Dividend Allowance
t was announced in the Budget that the Dividend Allowance will be reduced from £5,000 to £2,000 from April 2018. Dividends received by an individual are subject to special tax…
Tax
Advisory Fuel Rates For Company Cars
New company car advisory fuel rates have been published which took effect from 1 March 2017. The guidance states: ‘You can use the previous rates for up to one month from the…
Making Tax Digital
The government published their responses to the six consultations on making tax digital (MTD). In response to the consultations the government have decided the following: businesses will be able to…
SDLT Online Refund Procedures
HMRC have introduced an online service to apply for a repayment of the higher rates of Stamp Duty Land Tax (SDLT) for additional properties if the property sold was previously…
National insurance Changes – Winners And Losers
Tax campaigners have warned that the abolition of Class 2 National Insurance contributions from April 2018 could result in the lowest earners among the self employed being hardest hit.[a] Class…
Personal Tax Accounts ‘First Birthday’
The government are celebrating the ‘first birthday’ of their award winning Personal Tax Account which recently won Digital Project of the Year at the annual UK IT Industry Awards HMRC…
Scottish Rate Of Income Tax
On 6 April 2016, a fundamental change was made to the taxation system for Scottish resident individuals. The main UK rates of income tax were reduced by 10p for Scottish…
Scottish Tax Bands 2017/18-
On 15 December, Finance Secretary Derek Mackay delivered the 2017/18 Scottish Draft Budget setting out the Scottish Government’s financial and tax plans. For 2017/18, the Scottish Government is proposing to…
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