Chancellor announcing #AutumnStatement tax measures -
Reducing the threshold for 45p rate from £150K to £125,140. Other IT thresholds frozen until 2028.
Dividend allowance cut from £2,000 to £1,000 (2023) then £500 (2024)
CGT allowance down to £6,000 (2023) then £3,000 (2024)
Electing for the remittance basis can have a number of consequences. Do not take the decision lightly. Always speak to your tax advisor. https://t.co/lNJ9VcNZqv
Good news. HMRC has announced today that it will not charge:
1. late filing penalties for those who file online by 28 February 2022
2. late payment penalties for those who pay the tax due in full or set up a payment plan by 1 April 2022.
https://t.co/yTjtXyrqWm
Rishi Sunak announces HMRC will examine the Pandora papers for evidence of UK tax avoidance - best to check that your offshore structures are robust before you receive an enquiry from HMRC!
@SchwarzTax @TempleTax Looking forward to reading it. Does it cover the European motive defence to the Transfer of Assets Abroad Provisions following Brexit?
Trustees - do you hold an interest in a non-reporting fund? You many not qualify for trust protection. Please complete this survey to help fix the defect in the UK tax legislation https://t.co/PzveLT8SBC https://t.co/rGozUmuWgF
From April 2019 gov will apply income tax to royalties relating to UK sales when they are paid to low tax jurisdictions. Will raise c200m a year #budget2017