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One in a million

A million savers need to register to pay no tax on their savings interest because of changes to the tax system which came into effect on 6th April. The rule where you paid 10% on your first £2,880 of savings interest-as long as your total...

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Hold on to your deposits!

A deposit is normally taken from a tenant when they move into a property. This deposit is to secure the owner against potential damages, repairs or upkeep that the tenant has not undertaken despite any obligations existing in the tenancy agreement. The usual practice...

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Incorporation – remains beneficial

The autumn statement of December 2014 made changes to the tax benefits of incorporating a sole trader business or a partnership. Whilst the tax benefits of actual incorporation may have been reduced, benefits still remain and the overall annual benefit of trading as a...

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Inheritance Tax PET?

With careful planning many find that it is possible to minimise the Inheritance Tax (IHT) which is payable by their estate, allowing much more of their hard earned legacy to pass to their loved ones and less to the tax man! Any lifetime gifts...

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Entrepreneurs’ Relief

Entrepreneurs’ Relief (ER) is a relief for those business owners who dispose of business assets. ER may be due if you dispose of any of the following: • all or part of your business as a sole trader or business partner – including the...

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All Change! Salary Exchange!

If you are an employer it may be beneficial to allow employees to exchange some of their cash payments for pension contributions, childcare, cars, bicycles and items of technology. Salary exchange involves an employee swapping some of their salary for a benefit of choice,...

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Employment allowance – have you claimed yet?

Eligible businesses and charities can reduce their employer Class I National Insurance Contributions (NIC’s) bill by up to £2000 every year by claiming the employment allowance.  So far over 850,000 businesses and charities throughout the UK have benefited from the employment allowance since it...

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New Individual Savings Accounts

On 1 July 2014 all individual savings accounts (ISA’s) became NISA which means that your allowance for the 2014/15 tax year has increased to £15,000. If you have already invested in an ISA this year between 6th April 2014 and 30th June 2014 you will...

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