TAX AVOIDANCE Synopsis: A record £26.6 billion secured by HMRC in revenue from its tax avoidance and evasion clampdown in 2014/15. Date posted: Monday, July 20, 2015 HMRC’s annual accounts for 2014/15 show that £26.6 billion was secured in revenue from tax avoidance and tax evasion. This is nearly £3 billion more than in 2012/13 when it […]
With the changes in taxation of Dividend payments announced in the recent Summer Budget, we have produced a comprehensive guide for owners of SME’s to help them understand the potential impact on their income from April 2016 onwards. There are 3 easy to understand issues, the first of which gives a background to Dividends themselves. […]
TAXATION DEVELOPMENTS/DEVELOPMENTS IN TAXATION Synopsis: The latest National Statistics data on public sector finances suggest that the Chancellor has some extra wriggle room as he prepares his second Budget of 2015. Last Friday the Office for National Statistics (ONS) issued its latest bulletin on the state of public finances, the last that will appear before the 8 […]
PROPERTY INVESTMENTS/RENTAL INCOME Synopsis: Summary of tax treatment of income and expenses on buy to let investments Date posted: Thursday, June 04, 2015 So you are considering putting money into a buy to let property? There are many factors to take into account in deciding if this will represent a suitable investment for you. These […]
BUDGET 2015 Synopsis: George Osbourne has announced that another Budget will take place on 8 July and will reveal how the government plans to cut £12bn from Britain’s welfare bill. Date posted: Monday, May 18, 2015 Given the timing of the March Budget, the ending of the last Parliament and the election it was inevitable […]
SELF-ASSESSMENT Synopsis: 890,000 people incur a self-assessment late filing penalty of £100 each. HMRC has issued 890,000 people with a £100 penalty fine for failing to complete their tax returns by the 31 January deadline. This represents a 20% increase from 2014, where £71m in late returns penalties were issued. Self-assessment returns which are filed […]
TAX AVOIDANCE Synopsis: The Daily Mail has “rated” 11 “Tax Dodges” to categorise users as “saints and sinners” The latest press fascination with tax avoidance started with tax evasion and Swiss bank accounts, moved to deeds of variation and the Millibands and has now moved on to the publication of a self-styled ‘naughty and nice’ list of […]
PENSION REFORM 2014/15 Synopsis: The government has effectively increased the threshold at which regulated advice will be needed for defined benefit transfers. In its Budget consultation document ‘Freedom and choice in pensions’, the government floated the idea of restricting transfers from defined benefit schemes to defined contribution arrangements. In its response the consultation, it proposed […]
With self-employment on the rise in the UK, it is estimated that 11.2 million people need to fill out a self-assessment tax return for 2013/14 – which is a higher figure than ever before. In addition, this is the second year in which those with high income (£50,000 or more) and in receipt of child […]
The Chancellor, George Osborne, has announced that the 2015 Budget will take place on Wednesday 18th March. Why not talk to the professionals about properly managing your finances. Call us on 01273 457100 020 7871 5387 01403 333666 Or email us on info@opusgold.com Or just take a look at how we help our clients www.opusgold.com
