As a result of the Chancellor’s Budget in March, there have been a number of important changes across the finance and tax planning sector. Our series of Key Guides has undergone a quarterly review and each one contains the most up-to-date and accurate information reflecting the new 2016/17 tax year (www.nhllp.com). These specialist publications provide you with expert content on topics ranging from starting and selling a business to strategies for a high tax environment.
- The taxation of investments: The new personal savings allowance has come in as well as changes to tax allowances, bands and rates. Alterations to the way your interest and dividend income will be calculated are also important.
- Pensions freedom – drawing from your pension: The spring Budget included changes to the lifetime and annual allowances and the announcement of the new Lifetime ISA. You should also be aware of personal protection 2016.
- Workplace pensions and auto-enrolment: While auto-enrolment continues, the new single-tier state pension has now come in. Plus plans for a ‘pensions dashboard’.
- Starting and selling a business We have added information about the British Business Bank which can help smaller businesses and updated to include changes to capital gains tax.
- Making the most of fringe benefits: Since 6 April 2016, all employees (with certain exceptions) are treated the same when it comes to the taxation of fringe benefits. There have also been some changes to reporting requirements.
For further information on any of the topics above and to view our full set of updated Key Guides, please visit our website / click on the links. Or contact us to discuss any issues that may affect you.