by Nouman Shahzad | Mar 20, 2017 | Tax
If an individual sells his business, and if he qualifies for entrepreneurs’ relief, he is subject to capital gains tax (CGT) at the rate of 10%. But can he improve his position by using the sale proceeds to invest in the enterprise investment scheme (EIS)? This would...
by Nouman Shahzad | Mar 17, 2017 | Tax
Businesses take out key person insurance (‘KPI’) for a variety of reasons and it is common commercial practice, so one might think that the tax treatment would follow a well-trodden path. This article explores why that may, or may not, be so. The fact is that there...
by Nouman Shahzad | Mar 16, 2017 | Budget 2017, Tax
A stronger, fairer, better Britain were the themes of the Budget. You can read the individual measures below. Rates and allowances 2016/17 2017/18 £ £ Income tax rates – (non-dividend income) 0% lower rate tax – savings rate only Up to 5,000 Up to 5,000...
by Nouman Shahzad | Mar 15, 2017 | Tax
The 2015/16 self-assessment tax return must have been filed online by 31 January 2017 to avoid a late filing penalty. This is also the deadline for paying any outstanding tax and self-employed National Insurance contributions for 2015/16, and also the date by which...
by Nouman Shahzad | Jun 12, 2016 | Uncategorized
Many people have hobbies that generate money, such as buying and selling items at car boot sales or on eBay. It may seem paradoxical that some individuals seek to claim that an activity is a taxable trade, rather than a non-taxable hobby. However, this appears to be...
Recent Comments