30 April

Contractor Loan Schemes and Employee Benefit Trusts – The Latest News

In January, the HMRC published a consultation document, Tackling Marketed Tax Avoidance.  Two of areas covered in this proposed anti-avoidance strategy were Employee Benefit Trusts (EBTs) and Contractor Avoidance where contractors used offshore intermediaries and EBTs who make loans in place of remuneration to avoid Income Tax and National Insurance Contributions. The gist of the […]

29 April

Old Style £50 Note is Withdrawn from Circulation

Posted by in Newsletters

The old-style £50 note which features a portrait of Sir John Houblon, the first governor of the Bank of England, is to be withdrawn from circulation on Wednesday 30th April.  As a result, from 1st May, shops are unlikely to accept this note as payment.  The new-style notes featuring portraits of Matthew Boulton and James […]

26 April

Securing A Mortgage Just Got Tougher

From Saturday 26th April, the full implementation of new rules designed by the Financial Conduct Authority come into effect across the UK mortgage lending sector.  These rules, the Mortgage Market Review, aim to protect consumers from the reckless lending that led to the crash in 2008 by changing the criteria on which a lending decision […]

17 April

Ever Wondered Why the Tax Year in the UK Starts on 6th April?

Have you ever wondered why the tax year in the United Kingdom runs from 6th April to 5th April?  The reason is steeped in history. Prior to 1752, the New Year’s Day in Britain used to be in on 25th March, the Spring Quarter day, and the tax year started on the same day. Back in […]

6 April

The 2014-15 UK Tax Year has Started……

Posted by in News Alerts

Here are five Key Tax Changes have or will shortly come into force in the 2014-15 tax year: – the standard Personal Allowance has increased to £10,000.– the new ISA annual allowances are £5,940 each for a Cash ISA and a Share ISA. – from 1st July 2014, all ISAs will be converted to New […]

5 April

Investment in Fine Wine

As the UK passes the fifth anniversary of the interest base rate being at a historic low of 0.5%, this leaves businesses and individuals who have cash earning little return from holding these funds on deposit in a conventional bank or building society account. For investors looking for a higher rate of return, there are […]

1 April

The Budget 2014

Further to our live Twitter feed of the main announcements in the 2014 Budget.  This newsletter looks in more depth at some of the key policy decisions that will impact individuals and businesses. As previously announced, the Personal Allowance for the 2014-15 tax year will increase to £10,000.  In the Budget, the Chancellor of the Exchequer […]