Changes to Pension Rules Brought in April 2015
In the last couple of weeks the government have confirmed that massive changes to the treatment of pensions, and the choices available to you, will take effect from April 2015. These changes will make contributing into a pension fund much more attractive to many people, as well as presenting some interesting tax planning opportunities. These … Continue reading Changes to Pension Rules Brought in April 2015
The Public Accounts Committee (“PAC”) is a cross-party body of MPs who review various aspects of policy and its implementation. It has recently published a report on “Tax Reliefs” which highlighted a number of factors: A total of 1,128 different tax reliefs leads to a very complex tax system Despite a pledge to simplify the … Continue reading The Public Accounts Committee Report on Tax Reliefs Issued
The provision of private fuel with a company car can prove to be an expensive benefit. To avoid this, many employers who provide a car to employees require those employees to pay for all fuel and then to reimburse them for all miles driven on company business. Provided that the reimbursement is at a rate … Continue reading Company Car Fuel Reimbursement
Individual Savings Accounts (ISAs) offer a means of receiving tax free income on savings to taxpayers. However, there is a limit to the amount that an individual can invest in an ISA in any tax year. As from 1st July 2014 new ISA limits came into force, as well as certain other relaxations in the … Continue reading What the new rules on Individual Savings Accounts mean to you
One of the more unpopular pieces of legislation in recent times is “IR35”. In 1999 the government attempted to sneak through a whole new tax regime with minimal public discussion by hiding the details in the Inland Revenue (IR..) series of publications that were designed to explain budget pronouncements. This was so unpopular that no … Continue reading IR35 Rises Yet Again!