UK Offering New Trading, Property Income Tax Allowances
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New UK property and trading income allowances of GBP1,000 (USD1,246) each, which were announced in Budget 2016, came into effect on April 6.
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New UK property and trading income allowances of GBP1,000 (USD1,246) each, which were announced in Budget 2016, came into effect on April 6.
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The Chartered Institute of Taxation has issued a reminder to landlords that UK tax reliefs will begin to be reined in from April.
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The UK is considering bringing certain non-resident companies within the scope of corporation tax where they have existing UK taxable income and/or gains from the disposal of certain UK residential property interests.
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UK Chancellor Philip Hammond has backtracked on plans to increase National Insurance (social security) contributions for self-employed people.
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The UK is to increase the lifetime investment limit for social enterprises to benefit from tax relief to GBP1.5m (USD1.82m) from the current three-year rolling limit of EUR344,000 (USD368,000).
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The UK Government should clarify to what extent UK value-added tax rules will change post-Brexit and allocate resources to support businesses during the transition, the British Chambers of Commerce (BCC) has said.
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Scottish lawmakers have approved plans for the structure of the nation's new individual income tax regime, following the tax devolution agreement with the UK.
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The UK Government should reform the business rates (commercial property tax) system in the upcoming Budget to support long-term business investment, the British Chambers of Commerce (BCC) has said.
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HM Revenue and Customs is proposing to extend to the Individual Saving Account tax advantages to investments held within an account after the death of the account holder.
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The Low Incomes Tax Reform Group (LITRG) has called for the UK Government to rethink a proposal that would see UK residents paying more tax if their pension is from an overseas provider.