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Dividend Allowance and Rates of Tax

Dividend Allowance and Rates of Tax

Further details have been provided of the new rates of income tax on dividends and the new Dividend Allowance which will apply to dividends received on or after 6 April 2016. The rates of income tax on dividends will be: • 7.5% for dividend income within the basic rate band (ordinary rate) • 32.5% for dividend income within the higher rate band (upper rate) • 38.1% for dividend income within the additional rate band (additional rate) There will also be a new Dividend Allo...

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Economic Seminar

Economic Seminar

One of HSBC’s senior economic commentators gave businesses across the South an insight into the outlook for Europe’s economic climate and the prospects for UK business going forward. Liz Martins, from the bank’s Global and European Economic team, works alongside the Chief UK Economist, Simon Wells. She is responsible for forecasting short-term and mediumterm indicators for the UK economy, with a particular specialisation in inflation. Over 150 people attended the seminar..

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Employment Allowance: Increase to £3,000

Employment Allowance: Increase to £3,000

The NICs Employment Allowance was introduced in April 2014, for the purpose of supporting businesses and charities in helping them to grow by cutting the cost of employment. Eligible employers can claim the allowance, which reduces their Employer NICs bill by up to £2,000 a year. This is an ongoing allowance. Over a million employers have benefited from the allowance since its introduction. The government has announced that they will increase the Employment Allowance to ..

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Research & Development Advance Assurance

Research & Development Advance Assurance

Overview HM Revenue and Customs (HMRC) have introduced Advance Assurance for companies that are looking to claim Research and Development (R&D) tax relief. If your company carries out R&D for itself or other companies, it could qualify for Advance Assurance. This means that for the first 3 accounting periods of claiming for R&D tax relief, HMRC will allow the claim without further enquiries. Applying for Advance Assurance is voluntary and you can do this at any time before the first...

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Tax and Property – Key Announcements

Tax and Property – Key Announcements

Higher Stamp Duty Land Tax (SDLT) on purchases of additional residential properties Higher rates of SDLT will be charged on purchases of additional residential properties (above £40,000), such as buy to let properties and second homes, from 1 April 2016. The higher rates will be three percentage points above the current SDLT rates. The higher rates will not apply to purchases of caravans, mobile homes or houseboats, or to corporates or funds making significant investments in...

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Top ten things to know about the new tax-free childcare scheme

Top ten things to know about the new tax-free childcare scheme

Tax-Free Childcare will be launched from early 2017 and Tax-Free Childcare will be available to around 2 million households to help with the cost of childcare. Here’s the top ten things to know about the scheme… 1. You’ll be able to open an online account You’ll be able to open an online account, which you can pay into to cover the cost of childcare with a registered provider. This will be done through the government website, GOV.UK. 2. For every 80p you or someone else pays..

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