Two thirds of potential home buyers plan to use the Help to Buy ISA scheme to save a deposit for a home. The research by MoneySuperMarket found that 82% of prospective buyers think the scheme will help them get on the property ladder earlier than planned. Help to Buy ISAs, which were launched on 1 … Continued
The national living wage (NLW) of £7.20 an hour for workers aged 25 and over will come into effect on 1 April 2016. The national minimum wage will continue to apply to all other eligible workers. Although April may seem like a long way off, there are steps employers can take now to ensure they … Continued
From 6 April 2016 it is being proposed that a shareholder will not be able to engage in a similar trade or activity for two years after receipt of a capital distribution. The new legislation will consider any capital distributions, following the winding up of a company as income as opposed to capital, if, within … Continued
From April 2017 new rules will be introduced to determine domicile status for individuals for income tax, capital gains tax and inheritance tax (IHT). These new rules will fundamentally change the way in which some non UK domiciled individuals (non-doms) are taxed in the UK. With such significant changes and the likelihood of a relatively … Continued
The July Budget 2015 announced two further changes to the taxation of residential property. These changes will have the most impact on landlords and non-UK domiciled individuals (non-doms). IHT and UK residential property From 6 April 2017 all UK residential property, regardless of how it is owned, will be within the scope of UK inheritance … Continued
Many small employers do not realise that there are two ways that the tax relief on staff members’ pension contribution can be applied and it is important to understand which system you should be using. 1. ‘Relief at source’ means the employer takes the member’s pension contribution after tax has been deducted – and the pension … Continued
Stamp duty land tax (SDLT) on additional properties such as buy-to-let investments and second homes will be 3 percentage points higher than current SDLT from April 2016. Corporate properties and properties in Scotland (which are subject to land and building transaction tax) are not affected by the new rules. The new rates will not apply … Continued
Remember that HM Revenue and Customs can collect tax debts by adjusting your Pay As You Earn (PAYE) tax code. HMRC refers to this as ‘coding out’. The effect of this is to recover the tax debt from your pay or pension, by increasing the amount deducted during the tax year. This applies if you … Continued
The Enterprise Investment Scheme allows unconnected investors to obtain a 30% set off against their income tax liability up to £1,000,000 investment each tax year. So a £10,000 investment reduces the investor’s income tax liability by £3,000. In addition, provided those shares are held for at least 3 years, the gain on disposal of those … Continued
HMRC have recently announced that they have wound down their business record checks and will no longer initiate new checks using this process. HMRC say that they “remain committed to helping businesses to keep better records”. At the same time HMRC have updated their factsheet on compliance checks. However HMRC may still need to visit … Continued
🎅🏻BWM Christmas opening hours🎅🏻
🎄The BWM office will be closed over the Christmas period from close of business on Friday 22 December 2023 at 12pm until 9am on Tuesday 2 January 2024. 🎄
The Easter Bunny has come early!🐣Chocolate inspired pay day treat for all our lovely staff 🍫 🐇
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Tempest Suite 5.1, 12 Tithebarn Street,
Liverpool, L2 2DT
Phone: 0151 236 1494
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