Category: Tax

The Second Incomes Campaign gives you the chance to bring your tax affairs up to date if you’re employed and have additional income that’s not taxed. You can take this opportunity if: you’re an employee you’re resident in the UK you have additional income from working for yourself A second income could come from: consultancy  … Continued

With some experiencing difficulty in obtaining bank loans, SMEs are increasingly turning to Crowdfunding investment platforms to access growth capital. What is Crowdfunding? Crowdfunding is a way of raising finance by asking a large number of people each for a small amount of money. Typically, those seeking funds will set up a profile of their … Continued

Millions of people over 60 could get a £1,500 windfall from the Treasury because of an extraordinary loophole in the new pension laws. Changes in the recent Budget, allow pensioners to cash in small pension pots worth up to £10,000. Pensions experts have said that those able to access £8,000 cash could exploit the loophole … Continued

To download our tax cards for 2014/15 please follow this link BWM Tax Cards 2014-15

The introduction of changes to the taxation of limited liability partnerships will go ahead on 6 April 2014 despite calls for a 12 months’ delay to enable firms affected an opportunity to adjust. Under the draft proposals, partners have to satisfy one of three tests in order to maintain their status: Ensure at least a … Continued

To download our comprehensive summary of this week’s budget please follow this link BWM 2014 Budget Report

Pensions will always be a long term planning issue for the country and increasingly, Government policy has aimed to pass the responsibility for pension funding onto individuals. The wide ranging reforms announced in the 2014 Budget for the taxation of Defined Contribution pension schemes will provide some much needed encouragement for pension savings. The reforms … Continued

As announced in the 2013 Autumn Statement, legislation will be introduced in Finance Bill 2014 to simplifying filing and payment dates for IHT-relevant property trust charges. Legislation will also be introduced to treat income that has arisen in such trusts but which remains undistributed for more than five years as part of the trust capital … Continued

Seed EIS was introduced in 2012/13 to provide tax relief for individuals investing in small start-up companies and was originally scheduled to end on 5 April 2017. It was announced in the Budget that the generous tax breaks would now be made permanent: – A 50% tax reducer on up to £100,000 invested each tax … Continued

The VAT registration limit has been increased by £2,000 to £81,000 from 1 April 2014. The de-registration limit also increased by £2,000 to £79,000. If you have any queries please contact Sue Stephens or John Elliott. For the full 2014 Budget Summary please click this link BWM 2014 Budget Report