Company cars – are they worth having?

  Government tax policy on company cars is new heavily focused on steering people towards choosing an efficient or ‘green’ car. This doesn’t have to mean driving a Smart car! There are for instance Audi A3, BMW320d and Honda Civic models which fall...

Tax Credits – apply now to secure benefits

In order to qualify for a full year’s Tax Credit claim for 2012-13 your application needs to be made before 6 July 2012. This is because HMRC will not back date an application by more than three months. Based on your past income levels you may be of the opinion that...

Withdrawal of age related allowances

Is your birthday after 5 April 1948? If the answer is yes you will not qualify for the higher value personal allowances presently available to the over 65s and over 75s. From 6 April 2013 Age Related Personal Allowances are being phased out. Here’s how the changes...

HMRC to cap certain tax reliefs

In an attempt to ensure that higher rate tax payers make a reasonable contribution to UK tax revenues, new legislation is to be introduced from 6 April 2013 that limits access to certain tax reliefs. Taxpayers will be denied relief(s) if the claim exceeds 25% of their...

HMRC to stamp on residential property transactions

How much Stamp Duty Land Tax will you pay when you buy residential property in the UK following the Budget? Firstly the extension of the nil rate band to £250,000 for first time buyers ceased 24 March 2012. The current Stamp Duty Land Tax (SDLT) rates are: Residential...