Author Archives: Amy Ward

Comments Off on Change to Persons of Significant Control (PSC) Notifications

Change to Persons of Significant Control (PSC) Notifications

Change to Persons of Significant Control (PSC) Notifications

From April 2016, the vast majority of UK limited companies have been required to create and maintain a register of people with significant control. Commonly known as the PSC register, this includes details of who ultimately controls or exercises significant influence upon the company. From 30 June 2016, every company has also needed to submit … Continued

Comments Off on MTD: Taxpayers will have to make multiple annual submissions to HMRC

MTD: Taxpayers will have to make multiple annual submissions to HMRC

MTD: Taxpayers will have to make multiple annual submissions to HMRC

In March 2015, George Osborne outlined the new concept of “making tax easier”. All the tax information relevant to an individual would be gathered into the taxpayer’s digital tax account, and the annual paper tax return would be consigned to history. This was designed to result in a reduction in the administrative burden for taxpayers. … Continued

Comments Off on Do recent inheritance tax changes necessitate a change of your will?

Do recent inheritance tax changes necessitate a change of your will?

Do recent inheritance tax changes necessitate a change of your will?

It is advisable to review your will on a regular basis, particularly on marriage, divorce, the birth of a child or grandchild, the death of a beneficiary or executor. But some changes in tax law can also affect the provisions of your will. The introduction of the transferable nil rate band (NRB) between spouses in … Continued

Comments Off on Employers should be aware of the pitfalls of NLW and NMW

Employers should be aware of the pitfalls of NLW and NMW

Employers should be aware of the pitfalls of NLW and NMW

The National Living Wage (NLW) for those aged 25 and over was increased on 6 April 2017 from £7.20 per hour to £7.50 per hour. It should be noted that the increases in the NLW rates are in April whilst those for NMW are in October and employers have to address these increases on a six monthly … Continued

Comments Off on Chancellor’s u-turn on National Insurance rise welcomed

Chancellor’s u-turn on National Insurance rise welcomed

Chancellor’s u-turn on National Insurance rise welcomed

In his Budget last week Mr Hammond proposed to increase Class 4 NICs for the self-employed from 9% to 10% in April 2018, and to 11% in 2019, to bring it closer to the 12% currently paid by employees. Thousands of self-employed people across the Liverpool city region are breathing a sigh of relief after … Continued

Comments Off on Do You Have Enough Shares to Qualify for CGT Entrepreneurs’ Relief?

Do You Have Enough Shares to Qualify for CGT Entrepreneurs’ Relief?

Do You Have Enough Shares to Qualify for CGT Entrepreneurs’ Relief?

Do You Have Enough Shares To Qualify For CGT Entrepreneurs’ Relief? Entrepreneurs’ Relief reduces the rate of CGT to 10% on the first £10 million of gains on the disposal of qualifying business assets. This would include sole traders disposing of their business and partners disposing of their interest in a partnership carrying on a … Continued

Comments Off on New Government Savings Scheme Starts in April 2017

New Government Savings Scheme Starts in April 2017

New Government Savings Scheme Starts in April 2017

New Government Savings Scheme Starts in April 2017 From April 2017,adults under the age of 40 will be able to open a Lifetime ISA (LISA) and pay in up to £4,000 each tax year. They will be able to continue making contributions up to the age of 50. The government will add a 25% bonus … Continued