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What you need to know about tax changes taking effect from 6 April 2018

6th April 2018

The new tax year starts on 6th April and with it comes changes to the tax rates and thresholds. Below we have summarised what we consider the most important changes.   Dividend Allowance: The tax-free dividend allowance will be reduced from £5,000 to £2,000 per year for 2018/19 onwards. This will mostly affect directors of small businesses who pay themselves through dividends rather than ...read more

New Tax-Free Childcare Scheme

11th July 2017

A new tax-free childcare scheme has been introduced this year allowing around 2 million households to reduce the cost of childcare, including self-employed parents. How does the new scheme work? Parents with children under 12 years old can open an online account and pay in the amounts they would like for childcare provided by a registered childcare provider. For every 80p that is ...read more

What are Enterprise Management Incentives (EMIs)?

5th April 2017

Enterprise Management Incentives (EMIs) are an approved tax-advantaged employee share scheme allowing employers to grant share options to employees, most of the time as a reward for their efforts. It is designed for small companies and is not to be confused with the Enterprise Investment Scheme (EIS), where investors receive tax relief on their investment to small companies. What are the ...read more

UK Tax and Domicile – An Overview

21st February 2017

Is your foreign income taxable in the UK? Whether or not you should declare and pay UK tax on your income earned abroad depends not only on which country you have ‘residence’ status in but also on your ‘domicile’ status. If you are unsure of your UK residence status – that is, whether you are a UK resident or not ...read more

Statutory UK Residence Test

9th December 2016

The most significant impact on anyone's tax is arguably their residence status. Concluding on whether a person is UK resident for tax purposes is not easy. It's really difficult, in fact. To make life a little easier, we have summarised below the key points of the residency test: View a higher-resolution version of the infographic ...read more

Autumn Statement 2016

25th November 2016

The Autumn Statement was released on Wednesday by Chancellor Philip Hammond and, if you listened closely, amongst the doom and gloom that was the forecasts for this country’s post-Brexit economy, you may have heard a number of tax changes being announced. If however you happened to miss the Chancellor’s riveting speech, we have summarized the key points for you below. Companies

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Self-employed and struggling to get a mortgage ?

23rd May 2016

Applying for a mortgage is one of the more stressful aspects of buying a new house, especially given the changes in the market since the financial crash. Now it appears that the prospects of the self-employed looking to climb up the property ladder have been hampered, following a Financial Conduct Authority (FCA) report that a number of lenders have been ...read more