News Archive

UK Offering New Trading, Property Income Tax Allowances

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.

UK Buy-To-Let Landlords Face Higher Tax Bills From April

The Chartered Institute of Taxation has issued a reminder to landlords that UK tax reliefs will begin to be reined in from April.

UK Rethinking Tax On Overseas Property Investors

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.

U-Turns On National Insurance Levy Hike

UK Chancellor Philip Hammond has backtracked on plans to increase National Insurance (social security) contributions for self-employed people.

UK To Enhance Social Investment Tax Relief Regime

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).

British Firms Call For Tax Certainty Ahead Of Brexit

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.

Scottish Parliament Agrees New Income Tax Settings

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.

UK Chamber Calls For Property Tax Reform

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.

UK To Waive Tax On Deceased Taxpayers' ISA Investments

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.

LITRG Calls For UK Tax Relief For Foreign Pensions

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.

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