Rate changes in effect from 6 April 2016 mean that capital gains have become attractive again – unless you have the wrong type of gain, that is.
Archives for 2016
Brexit and Tax (Taxit?)
It seems an age since the UK voted to leave the EU but, with exit talks still to begin, it will be much longer before we really know the effects of the referendum result. There will, of course, be significant long term economic consequences and many areas of law will need to be adapted, but what are the possible tax consequences of Brexit for the UK?
Taylor-made support leads to new contracts
The most important aspect of a client’s relationship with us is that you benefit from the right advice and support based on the needs of your business, and you as a business owner. Over recent months, we have worked strategically with Barrow-based training provider Taylor Made Training to support them in growing the business.
Worth the sacrifice?
Auto enrolment staging dates are fast approaching… Could a salary sacrifice scheme be the most effective way to deliver tax savings for you and for your employees?
When (and when not) to sign a Gift Aid form
In April 2016, the Gift Aid declaration was changed by HMRC and, in certain circumstances, the taxpayer may be responsible for paying the tax reclaimed by the charity. This also applies to declarations that have already been signed.
Look forward to the Lifetime ISA… if you’re under 40
The future launch of the Lifetime ISA was perhaps the most significant announcement made in the March 2016 Budget. Now we have more detail about the product, some experts suggest that many 20 and 30-something taxpayers will turn their backs on the traditional pension as a way to save for retirement.
Making tax simpler for small businesses
The Office for Tax Simplification recently carried out a review of small businesses to make informed proposals on how the tax system could be made less complex for them.
Insights, ideas and inventions… Tax relief for Research and Development
Research and Development (R&D) tax relief can provide additional tax deductions and enhanced cash flow for companies who are eligible. HMRC has introduced ‘Advance Assurance’ to make it easier for small companies to check their entitlement.
The new generation of State Pensioners
Those who reached State Pension age on or after 6 April 2016 became the very first recipients of the new, so-called ‘flat rate’ State Pension. However, almost everyone is receiving a different amount to the headline flat rate of £155.65 per week.
Timing change for National Minimum Wage increases
The government has announced that new National Minimum Wage and National Living Wage cycle will change from April 2017 so that both rates are amended in April each year.
Sophie gets our vote of confidence
We recently welcomed Sophie Armer to the brand new role of Client Manager at RfM’s Morecambe office. Politics graduate and travel addict Sophie tells us about her journey so far and where she’s planning to take RfM Lancaster.
RfM connects clients to a new crowd of lenders
It may have been labelled ‘the Bank of Joe Public’ but more and more businesses are looking to the ‘alternative’ finance industry (also known as crowdfunding) to raise capital, and turning their backs on the banks and traditional lenders.
Budget brings big personal tax changes
In what proved to be a controversial Budget 2016, it was the changes to personal taxes that particularly caught our eye. Here we look at how they might affect you.
What difference will the changes to tax on dividends make to you?
From April 2016, the way dividends will be taxed is changing. If you are a director-shareholder who receives some of your income from dividends, these changes will affect the amount of tax you have to pay in January 2018 and onwards.
RfM client puts in a star performance
Just four years ago, RfM client ST&R comprised a compact team of 15 insurance specialists, occupying, let’s say a ‘cosy’ office space in Chorley. But what the business lacked in decor and facilities, it more than made up for in enthusiasm and drive. Fast-forward to 2016 and the headcount and profit forecasts have grown at a whiplash-inducing rate. So, what is the secret to ST&R’s impressive numbers?