Important Change in Auto Enrolment
To enrol eligible workers into a pension scheme will be compulsory for all firms. There is a very important change happening right now that will affect a large number of you. Even if you are not immediately affected you should be aware of it in case it affects you in the future. It is “auto-enrolment” or “workplace pensions”. You will possibly have seen adverts … Continue reading Important Change in Auto Enrolment
Capital Gains Tax Rates and Allowances From April 2015 the annual exemption will increase to £11,000. The rate of tax will be 18% to the extent that there is unused basic rate tax band, and 28% thereafter. These rates are unchanged. Disposals qualifying for Entrepreneurs Relief will continue to be taxed at 10% subject to … Continue reading The Budget 2015 – Capital Taxes
National Insurance From April 2015 employers NIC for employees aged below 21 on the date of payment will be reduced from 13.8% to 0% on earnings up to the Upper Secondary Threshold of £815 per week. Employers NIC in respect of apprentices aged below 25 are similarly reduced. The Employment Allowance of up to £2,000 … Continue reading The Budget 2015 – Employment Tax
Corporation Tax From April 2015 the Small Companies Rate and the Main Rate of Corporation Tax will merge. For both 2015-16 and 2016-17 the rate of Corporation Tax will be 20%. Annual Investment Allowance The Annual Investment Allowance has been at £500,000 per annum from April 2014. This gives tax relief of 100% on most … Continue reading The Budget 2015 – Business Tax
There are major changes to how people aged 55 and over can access their money purchase pension savings from April 2015. There will now be much greater flexibility, which is achieved in one of three ways as follows: Taking 25% of the pension fund as a tax free lump sum and purchasing an annuity will … Continue reading The Budget 2015 – Pensions