Latest News
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British businesses will suffer if there is an out migration of skilled foreign workers. A Trades Union Congress spokesman observed strong migration levels is an indicator of an economy that is performing well. He added if people seem to be considering...
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People should not be carried away by strong second quarter gross domestic product (GDP) results, one expert has claimed. Jonathan Loynes, chief European economist for Capital Economics, noted it is still too early to say any risk of a double-dip recession...
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The Government has announced that children born after 31 December 2010 will no longer qualify for a child trust fund account. Children born between 1 August 2010 and 31 December 2010 will receive a voucher worth £50 instead of £250 as previously,...
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The news that a value added tax (VAT) inspection is due still strikes fear into the hearts of many business owners and managers. If you have been accounting for VAT correctly and kept the necessary records, there should be no cause for worry. Even if you...
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Where an individual lets property, the profit or loss is calculated just like for any other trade (there are different rules for companies). All expenses, including interest paid on loans used to fund the property business, are deducted from the rental...
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Capital gains tax (CGT) has become more complicated following the Budget on 22 June. For gains made since that date, only basic rate taxpayers pay CGT at 18%. Everyone else will pay CGT at 28%, although a 10% rate can apply where the disposal qualifies for...
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June’s Emergency Budget means that tax planning is more important than ever.
In the fortnight before the Emergency Budget, the Government issued many warnings of a period of austerity and the pain that was to come. In the event,...
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If you have made a capital gain that will be taxed at the new higher rate of 28%, you might decide to defer it to a later tax year. This will reduce the tax payable if your future marginal rate of capital gains tax (CGT) is lower, or you have more losses or...
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Did you know that new businesses set up in some parts of England on or after 22 June 2010 can claim exemption from paying employer’s Class 1 NICs for the first ten employees hired in the first year of trading? The idea is to help boost employment....
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The higher personal allowances for people aged 65 or over are valuable – but they can cause some complications.
If you are at least 65 years old (but under 75) by 5 April 2011 then for the current tax year (2010/11) you are entitled...
