As ever, the Budget speech contains a quick reference to changes to the tax regime and it takes a detailed review the full Budget 2018 report to understand the true implications. This newsletter, the first of three, looks at the proposals for changes R&D tax relief for small and medium-sized enterprises. The Treasury opines that […]
In the 2018 UK Budget, the Chancellor of the Exchequer, Philip Hammond, was able to make some eye-catching announcements including: The increase in the tax-free Personal Allowance to £12,500 from April 2019, a year ahead of the manifesto commitment; The increase in the Higher Rate Threshold to £50,000 from April 2019, again, a year ahead […]
The UK Chancellor of the Exchequer, Philip Hammond, has announced that the 2018 Budget Statement will be presented on Monday 29th October. As Brexit looms closer and with Theresa May announcing that “austerity is over” and pledging a major uplift to the NHS budget, the Treasury is under real pressure. Measures that are said to […]
The 2016 Budget included a clause on future measures to tackle the current and historic use ‘disguised remuneration’ schemes. These are generally schemes that involve individuals being paid in loans through structures such as an offshore Employee Benefit Trust (EBT) or Contractor Loans. In both instances, whilst the loans are theoretically repayable, the Loan Agreement […]
As the deadline for the paper filing of the 2017-18 approaches at the end of October, one frequent question that we asked is “I am paid a PAYE salary and owe less than £3,000 in tax on my self-assessment, so why can’t I pay my tax through my tax code?” On the face of it […]
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