Author Archives: myersclark

Figures from HMRC show that inheritance tax (IHT) receipts have reached their highest level since the current system was introduced in March 1986.

The Tax-Free Childcare scheme is due to launch in early 2017 and will be available to more than 2 million households. The scheme will help more parents to go to work and manage childcare costs. For every 80p contributed by the parents, the government will top this up with 20p, up to £2,000 each year, per child.

Ahead of the EU referendum, we were warned by the Chancellor that should we choose to leave the EU, he would have no choice by to increase taxes. Now we have the result, was this just campaign talk, or should you brace yourself for some substantial tax changes?

HMRC can spring changes to your tax code in an attempt to collect more tax sooner. However, you’re not always obliged to accept the figures even if HMRC’s calculations are correct. So when can you override your tax code?

Telephone message left by hoax caller threatens an HMRC lawsuit.

Britain’s votes have been cast, the referendum result has been declared, and the Prime Minister is stepping down.

The take up of employee-shareholder status has been somewhat lower than the government hoped for. And the recently introduced restriction to the amount of capital gains tax (CGT) exemption is certainly not going to help.

The employment allowance was set at £2,000 for the first two years of its existence. For 2016/17, the allowance has been increased to £3,000. So you can reduce the amount of your employer class 1 national insurance contributions (NICs) payable to HM Revenue & Customs (HMRC) by this amount throughout the year.

The new dividend tax rules have reduced the benefit of paying dividends instead of salary for many shareholder-directors, but dividends still have advantages.

This morning we had an excellent turnout for the second Estate Planning seminar of the programme. Rebecca Potton was joined by Adam Shute of Hancock Quins.