Keeping you up to date with the latest news and happenings in the worlds of accounting, tax and insolvency
Increasing the Normal Minimum Pension Age
Increasing the normal minimum pension age The normal minimum pension age (NMPA) is the age at which most pension savers can access their pensions without incurring an unauthorised pension charge (unless they take their pension earlier due to ill-health). Registered pension...
Register for Child Benefit even if the HICBC applies
Register for Child Benefit even if the HICBC applies If you are responsible for bringing up a child who is under the age of 16, or under the age of 20 where they remain in approved education or training (such as A levels but not education at an advanced level, such as univ...
New reduced rate of VAT for hospitality and leisure
New reduced rate of VAT for hospitality and leisure The hospitality and leisure industry were particularly hard hit by the effects of the Covid-19 pandemic and associated lockdowns. To help the industry recover they benefitted from a reduced rate of VAT of 5% from 15 July ...
Get ready for the next steps of Making Tax Digital
Get ready for the next steps of Making Tax Digital Making Tax Digital (MTD) is a government programme to move to a digital tax world. HMRC’s stated ambition is to become one of the most digitally advanced tax administrations in the world. MTD involves fundamental changes...
Understanding how dividends are taxed Dividends have their own tax rules and their own rates of tax. The rules and the rates apply in the same way regardless of whether the dividends are paid from your personal or family company as part of a profit extraction strategy, or ...
How to keep your Christmas party tax free
Keeping the Christmas party tax-free Last year, the Covid-19 pandemic and national lockdown took the annual Christmas party (other than virtual ones) off the agenda. This year, there may be a temptation to make up for lost time. How can you celebrate the festive season wit...
Tax-free help with childcare costs
Tax-free help with childcare costs Childcare costs can be very expensive and any help is welcomed, particularly where you can benefit from that help tax-free. There are various routes by which this is possible. Government tax-free top-up scheme ...
End of the AIA transitional limit – Beware of the traps
End of the AIA transitional limit – Beware of the traps The annual investment allowance (AIA) allows you to claim an immediate deduction against your profits for qualifying capital expenditur...
Special capital gains tax rule for transfers of assets between spouses
Special capital gains tax rule for transfers of assets between spouses Although married couples and civil partners are assessed individually for capital gains tax purposes and each has their own annual exempt amount, a ...
Disposing of an asset on which capital allowances have been claimed
Disposing of an asset on which capital allowances have been claimed Capital allowances are the tax equivalent of depreciation, and the mechanism of providing tax relief for certain items of capital expenditure. However, with the exception of cars, capital allowances are no...
Latest News Items
Categories
At Arthur Boyd and Company we pride ourselves on providing a hands on and personal approach, specifically tailored to your individual needs. To find out how we can help, contact us today for a trusted consultation.
"*" indicates required fields