News and Blog

Chancellors Spending Review

Chancellors Spending Review and Autumn Statement 2015: key announcements   From: HM Treasury First published: 25 November 2015 Part of: Spending Review and Autumn Statement 2015 The Spending Review and Autumn Statement has been set out to Parliament – here’s … Continue reading

Increase in Insurance Premium Tax

Association of British Insurers (ABI) response on the increase in Insurance Premium Tax and cuts to corporation tax     Huw Evans, Director General of the Association of British Insurers (ABI), responds to the increase in Insurance Premium Tax and … Continue reading

PIERCE VIEW: Pensions

Yet more tinkering with pensions, as expected the lifetime allowance will reduce to £1m from April 2016 but with transitional protection available. Tax relief on pension contributions for high earners will be restricted. The annual allowance of £40,000 will be … Continue reading

PIERCE VIEW: HMRC Powers

HMRC are to be given powers to collect tax debts of over £1,000 directly from a debtor’s bank account, this even extends to joint accounts although the other parties share of the account will be ring fenced. The powers will … Continue reading

PIERCE VIEW: Inheritance Tax & Non Domiciled Individuals

Inheritance Tax No surprises here as the new exemption for the family home had been widely trailed before the budget. The new allowance to exempt the main residence will apply for deaths after 6 April 2017 and only where the … Continue reading

PIERCE VIEW: Business Taxes

Employment Taxes and National Insurance The NIC employment allowance will increase to £3,000 from April 2016 however where the director is the sole employee this will not be available. The increase is intended to cover the NIC costs of four … Continue reading

PIERCE VIEW: Buy-to-let Landlords

Buy-to-let landlords Interest relief on borrowings to purchase residential lettings and allowed against rental income will be restricted. The measure will be phased in from 2017/18 and will only affect individuals who are higher rate taxpayers. A basic rate taxpayer … Continue reading

PIERCE VIEW: Personal Taxes & Dividends

Personal Taxes The personal allowance will increase from April 2016 to £11,000, and from April 2017 to £11,200 with the aim of increasing the personal allowance to £12,500 by the end of the present parliament. In future, legislation will link … Continue reading

Summer Budget 2015 Full Report

No one quite knew what to expect in the first budget by a majority Conservative government for almost 20 years. In his seventh Budget Statement as chancellor, George Osborne promised a ‘big budget for a country with big ambitions’. As … Continue reading

Chancellors Summer Budget Speech

Chancellor George Osborne’s Summer Budget 2015 speech The Summer Budget speech in full. Summer Budget 2015: HM Revenue and Customs All HM Revenue and Customs (HMRC) tax related documents and other announcements for Summer Budget 2015. Publications Corporation Tax: extending … Continue reading