Accountancy Blog

Our accountancy blog is updated monthly with our opinions on a variety of issues affecting our clients and the industry sectors we cover.

Reduced Lifetime Allowance – is your pension in danger of being affected?

From April 2016, the lifetime allowance will fall from £1.25 million to £1 million. The lifetime allowance is the maximum that can be built up in a pension over a working life and receive tax relief. Any savings in excess of the lifetime allowance will be subject to a tax charge of up to 55 […]

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Initial Interpretation of Budget 2016

Arguably, it is likely the surprise ‘Sugar Tax’ will be the most talked about initiative in the most recent budget but below are what we believe to be the summarised highlights from the budget delivered by Chancellor George Osborne on 16 March 2016. Much of the detail is still to be set out in the […]

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Its not just brown envelopes which interest HMRC now – ATED

ATED – the background The acronym ATED stands for Annual Tax on Enveloped Dwellings. This is an annual tax levied on residential dwellings worth more than a certain value that are owned, wholly or partly, by a non-natural person (company, partnership with a corporate partner or collective investment scheme). It was introduced in April 2013 […]

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Initial Interpretation of the Draft Finance Bill 2016

On 10 December 2015, the government published draft clauses for the 2016 Finance Bill for consultation, before its final introduction towards the end of March 2016. These draft clauses are published prior to the introduction of the Finance Bill in order to provide taxpayers with certainty about future tax changes. It should also be noted […]

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Scottish Budget Review 2016/17

Under the Scotland 2012 Act, the Scottish Parliament has new limited financial powers from April 2016.

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