Employment intermediaries and ‘false self-employment’

The Government will amend existing legislation to prevent employment intermediaries being used to avoid employment taxes by disguising employment as self-employment. The Government will consult on strengthening existing legislation to ensure the correct amount of tax and NIC are paid where the worker is, in effect, employed. The legislation will be amended with effect from […]

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CGT changes

The current rates of CGT are 18% to the extent that any income tax basic rate band is available and 28% thereafter. The rate for disposals qualifying for Entrepreneurs’ Relief is 10% with a lifetime limit of £10 million for each individual. CGT annual exemption The CGT annual exemption is £10,900 for 2013/14 and will […]

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Employer NIC for the under 21s

Note from the Autumn Statement : From April 2015 the Government will abolish employer NIC for those under the age of 21. This exemption will not apply to those earning more than the Upper Earnings Limit, which is £42,285 per annum for 2015/16. Employer NIC will be liable as normal beyond this limit.

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Employment intermediaries and ‘false self-employment’

Autumn Statement : The Government will amend existing legislation to prevent employment intermediaries being used to avoid employment taxes by disguising employment as self-employment. The Government will consult on strengthening existing legislation to ensure the correct amount of tax and NIC are paid where the worker is, in effect, employed. The legislation will be amended […]

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Partnerships with mixed membership

As part of the Autumn Statement it was announced there would be new anti-avoidance measures introduced which will affect partnerships, including LLPs. The measures apply where the partners or members include both individuals and non-individuals (mixed membership partnerships). Most commonly the non-individuals will be company members of the partnership. There will be two areas potentially […]

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Community Amateur Sports Club (CASC) tax relief

Part of the Autumn Statement was about the Community Amateur Sports Club (CASC) scheme. This provides a number of tax reliefs, similar to those available to charities, to support amateur sports clubs. For example an individual can make a donation to a CASC as Gift Aid. The Finance Bill 2014 will include provisions to extend […]

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Transferable tax allowance – for some

In October the Government announced that from April 2015 married couples and civil partners may be eligible for a new Transferable Tax Allowance. The Transferable Tax Allowance will enable spouses and civil partners to transfer a fixed amount of their personal allowance to their spouse. The option to transfer will be available to couples where […]

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Full summary of the Autumn Statement, 5th December

2013 Autumn Statement On Thursday 5 December the Office for Budget Responsibility (OBR) published its updated forecast for the UK economy. Chancellor George Osborne responded to that forecast in a statement to the House of Commons later on that day. In the period since the Budget in March a number of consultation papers and discussion […]

This entry was posted on December 7, 2013 under

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Budget – Summer 2015 – Highlights

Here are some particular points we want to highlight to you from the post election budget. Further detail can be ...

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