The Enterprise Investment Scheme (EIS) can really help small unquoted companies because it allows them to raise capital by encouraging investment through a series of income tax and capital gains tax reliefs. The scheme is open to all companies and investors who meet the qualifying criteria, as set out here. Tax Reliefs Income Tax In […]
Given up trying to work out what difference the 2013 Budget will make to you? You aren’t the only one – there’s a lot to take in. So, following our initial thoughts last week, we thought it was about time we picked the whole announcement apart in more detail. Read on to find out who […]
Chancellor George Osborne announced the details of his 2013 Budget today – detailing changes to taxes and investments in a bid to boost the economy and reduce unemployment. The headline news is the raising of the personal tax free allowance to £10,000 to be introduced a year earlier than anticipated. It will now come into […]
If you are non-resident, but are still receiving income taxable in the UK (such as from employment, rental, or interest or dividends), you may be entitled to the same amount of tax-free personal allowance as UK residents receive. Whether you are entitled to it or not depends on your nationality and country of residence. Those […]
If you are called for jury duty, you can claim a certain amount of expenses for things like travel, lunch and refreshments, and loss of earnings. Your employer has to let you attend the jury duty. They do not have to pay you for the time taken off, however. If they do not pay you, […]
Name one successful businessman who refuses to value attention to detail. Struggling? Me too. Serious businessmen demand the same thing from their accountants. And rightly so. There are countless tax reliefs and charges – it’s a minefield out there if you don’t know what you are doing. But a good accountant will guide you through […]
Today, the government announced it’s plans for further state pension reform (in addition to the automatic enrolment, which I’ve discussed here). The key headline is the introduction of a flat rate state pension set at £144 per week, in today’s money, to start from April 2017 (which will likely equal £162 per week). Flat Rate […]
As of today, changes to child benefit have been introduced that will mean that over one million families will lose some or all of their child benefit. Those people with an individual income of over £50,000 lose part of their benefit, and it will be fully removed if they are earning over £60,000. One thing […]
Often, if you are employed by a foreign company, you will be living and considered resident there for tax purposes, and will not be liable to UK tax on those earnings. In some unusual cases however (for example, pilots) you may be living and resident, ordinarily resident and domiciled in the UK, whilst still performing […]
This week the newspapers have been following the proceedings of the appearance of representatives from Starbucks and Amazon in front of the Public Accounts Committee. The UK based operations of these big multinational companies have managed to avoid paying more than a minimal amount of corporation tax to the UK through a variety of systems […]