Newsletter 87

Headlines from our latest newsletter.  Please click on any of the links below for more information :

AUTUMN STATEMENT

The Chancellor George Osborne delivered his Autumn Statement on 3 December - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-87#Autumn

STAMP DUTY LAND TAX (SDLT)

One of the Autumn Statement announcements is a major reform to SDLT on residential property transactions - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-87#Stamp

INCORPORATION - RESTRICTION OF RELIEF FOR GOODWILL AND ENTREPRENEURS’ RELIEF

Corporation tax relief is given to companies when goodwill and intangible assets are recognised in the financial accounts - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-87#Incorporation

EMPLOYMENT BENEFITS CHANGES AHEAD

In the Autumn Statement the government announced a package of measures which will impact the treatment of employee benefits in kind and expenses - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-87#Employment

PERSONAL ALLOWANCES AND TAX BANDS 2015/16

For those born after 5 April 1948 the personal allowance will be increased from £10,000 to £10,600 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-87#Personal

STARTING RATE OF TAX FOR SAVINGS INCOME

From 6 April 2015, the maximum amount of an eligible individual’s savings income that can qualify for the starting rate of tax for savings will be increased to £5,000 from £2,880, and this starting rate will be reduced from 10% to nil - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-87#Savings

HOLIDAY PAY AND OVERTIME

In the judgment an Employment Appeal Tribunal (EAT) has decided that holiday pay should reflect non-guaranteed overtime - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-87#Holiday

ADVISORY FUEL RATES FOR COMPANY CARS

New company car advisory fuel rates have been published which took effect from 1 December 2014 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-87#Advisory

DO YOU EMPLOY ANYONE UNDER THE AGE OF 21?

From the 6 April 2015, if any of your employees are under the age of 21 you may no longer need to pay employer Class 1 secondary National Insurance contributions (NICs) on their earnings - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-87#21

GIFT AID DECLARATION TO BE IMPROVED - POTENTIALLY SAVING CHARITIES BILLIONS OF POUNDS

The Gift Aid model declaration form is to be improved, to stop charities potentially losing out on billions of pounds of Gift Aid - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-87#Gift

HELPING EMPLOYERS IDENTIFY A PENSION SCHEME FOR AUTOMATIC ENROLMENT

The Pensions Regulator (TPR) has opened consultation on a proposal to publish a list of pension schemes that are available to any employer, regardless of the number or workers the employer has or their levels of pay - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-87#Pension

HMRC WARNING ‘TEN THINGS YOU NEED TO KNOW ABOUT TAX AVOIDANCE’

HMRC have published a list of factors to consider before buying into a ‘scheme’ - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-87#HMRC