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EU Referendum – the UK votes to exit

At 4.40am the BBC called the results, and the United Kingdom has committed to leaving the EU.  This is a shock result though and one that we know many of our clients were not expecting.  Putting aside the national issues, this is how we believe the vote will impact on Employers, Landlords, Individuals and Businesses.[...] Read more »

Business issues to keep on your radar…

1. Tax Dividend Changes The way dividend income is taxed has changed significantly.  Since April 2016, every individual will receive an annual £5,000 tax-free limit for dividend income. Dividend income over £5,000 (and after using up any remaining personal allowance) will be taxed at 7.5% for basic rate taxpayers, 32.5% for higher rate taxpayers and[...] Read more »

Budget 2016 – in a nutshell

The Budget 2016 Much of the press coverage has been on the sugar tax, but here are the other key points that could affect you: Business rates The chancellor announced a new £15,000 threshold for small business rate relief, more than double the previous level of £6,000. He also increased the higher rate from £18,000[...] Read more »

Have you taken your tax free dividends?

The tax rules are changing, and for dividends paid on or after 6th April 2016 there will be an income tax charge, regardless of whether the shareholder is a basic rate or higher rate taxpayer (save for a £5,000 tax free allowance). If you are a shareholder then make sure that you have utilised your[...] Read more »

Changes to Stamp Duty Land Tax on second homes or rental property

Tax changes for landlords – what do they really mean? Buy-to-let landlords will be subject to an additional 3 per cent stamp duty charge for property purchases on or after 1 April 2016.  In addition, there is a withdrawal of other tax reliefs being phased in, in particular the Wear & Tear Allowance for furnished[...] Read more »

Why dragging your heels could cost you money – the new dividend regime

With the start of the new financial year fast approaching those with their own companies need to consider the impact of the dividend regime on their tax liabilities. New rules come into effect on 6 April 2016 which mean that the decision to pay a dividend even one day later can have a huge impact[...] Read more »

TAX RETURN DEADLINE FAST APPROACHING…

…with the Christmas break taken into account, there are only a few weeks left for the team at MulliganWilliams to complete tax returns for our clients before the 31 January 2016 filing deadline. If you are in the habit of leaving this until January, then please would you try to make sure that we have[...] Read more »

Fears that 3% increase in SDLT on additional residential property could damage buy-to-let industry

Experts have warned that the 3% rise on SDLT for buyers of additional residential property announced in the 2015 Autumn Statement could be the final nail in the coffin of the buy-to-let market.  The proposal is that purchases of further residential properties (second homes or rental properties) would be liable to pay an additional 3%[...] Read more »

How to save on Capital Gains Tax tip #2

Tip #2 for reducing or eliminating capital gains tax (CGT) Record Everything It is a common problem that when people come to sell an asset, particularly property or land, they omit to claim all the expenses incurred during the time of ownership. If you keep a record of all costs you may be able to[...] Read more »

Research & Development Tax Credits

We can offer you a free review on whether you qualify for R&D tax credits. A large number of companies are still not aware whether they can claim these valuable tax reliefs. These are relevant to you if: 1. you invent anything 2. come up with a new way of doing something 3. develop new[...] Read more »


 

 

 

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