Budget 2016 – corporate, business and property taxes

Corporate & Business Taxes In 2010 the government set out a corporate tax road map which outlined plans to back business through lower corporation tax rates and the modernisation of tax rules and administration, whilst ensuring a crack- down on avoidance and aggressive tax planning. In this budget we have seen substantial changes announced to reform our corporate tax system. … Read More

Budget 2016 – capital gains tax

Capital Gains Tax From 6 April 2016, the higher rate of Capital Gains Tax (CGT) will be reduced from 28% to 20%, and the basic rate will be reduced from 18% to 10%. The reduction in rates will not apply to residential property and carried interest. This will ensure that CGT provides an incentive to invest in companies over property. … Read More

Budget 2016 – personal tax

Personal Tax Rates and Allowances The personal allowance will be increased from £11,000 in 2016-17 to £11,500 in 2017-18. This continues to ensure that no-one working 30 hours per week on the National Minimum Wage (NMW) will pay income tax in 2017-18. As a result of the increase, a typical basic rate taxpayer will pay over £1,000 less income tax … Read More

Budget 2016 – changes we already knew about

Budget 2016 – tax changes we already knew about Quite a lot had already been announced, perhaps keeping us (i.e. the voters) onside for the EU vote in June? A new dividend tax allowance of £5,000 will be introduced from 6 April 2016, with different tax rates applied to dividend income above this amount. Read more on this here. A … Read More