Month: March 2016

Keep an eye on your cash

The latest inflation figure has crept up again, but interest rates haven't followed. Between December 2015 and January 2016, overall prices as measured by the Consumer Prices Index (CPI) fell by 0.8%. However, prices normally fall between Christmas and the New Year as the sales get under way and the festive travel price hikes are…

Read more

Breaking the PAYE code

Your latest PAYE code may look a little strange. It's the time of year when HM Revenue & Customs (HMRC) sends out PAYE codes for the new tax year. Usually that means adjustments for: An increase in the personal allowance, which in 2016/17 will rise by £400 to £11,000; Changes in any benefit values, notably…

Read more

Getting Ready for the new tax year

As we near the end of the tax year, now is the time to consider not only year end planning, but also planning for the new tax year. It is one of the features of the political cycle that the more difficult and less palatable legislation tends to come at the start of a parliamentary…

Read more

Budget Summary 2016

This was the third budget within the space of 12 months. It threatened to be the most difficult of the trio because of constraints imposed by June's EU referendum and disappointing economic numbers. Nevertheless the Chancellor managed to produce several surprises, including net tax cuts in 2017/18 and 2018/19 before reaching his often repeated goal…

Read more

Venture Capital Trust changes – 2016

This year's venture capital trusts (VCT) offerings are the first under a changed set of investment rules. VCTs offer several attractive tax benefits: •Income tax relief at 30% is available on new share subscriptions for investments up to £200,000 per tax year; •Dividends are free of income tax; and •Any gains are free from capital…

Read more

Interest rates – The turn of the year?

The Governor of the Bank of England has made another interest rate pronouncement. Almost since he started the job in July 2013, Mark Carney has used his position of Governor of the Bank of England to talk about when UK interest rates will begin to increase. So far he has largely managed to prove that…

Read more