Tax Zone

Welcome to the Tax Zone. This area of the site is dedicated to keeping you updated on changes to tax legislation and its effects on financial planning. Here you will obtain detailed analysis on the budget, hints & tips and planning opportunities resulting from any changes made. This is intended to be a valuable resource for all our clients who wish to keep up-to-date and have a desire to take control of their financial affairs.

The Partnership always acts in the best interest of our clients. We work hard to ensure you receive the right advice and information enabling you to make the decisions that are best for you.

The content on this website is purely for information purposes only. Decisions should not be taken based solely on the content of the website and advice from a suitably qualified individual should be sought first.

Budget Summary - 2014/15

Here it is Ladies & Gentlemen. Hot off the press, the budget summary for 2014/15 including the latest rates, allowances, tax and financial planning tips.

Many of the changes revealed were re-announcements from the Autumn Statement of little more than three months ago. Nevertheless, the improving economic landscape did allow the Chancellor to spring a few surprises. 
The Budget highlights include:
  • The personal allowance will be increased to £10,000 in 2014/15, and the higher rate threshold by £415 to £41,865.
  • A new tax-free childcare scheme, from autumn 2015, to provide 20% of childcare costs up to £10,000 per child per year, for children under the age of 12.
  • The new single-tier pension will now be introduced from April 2016.
  • An employment allowance of £2,000 for businesses and charities to set against their employer NICs from April 2014.
  • A single rate of corporation tax of 20% for companies from April 2015. 
  • Stamp duty is to be abolished for shares listed on exchanges (e.g. AIM) from April 2014.
  • A limited one year extension of CGT reinvestment relief for seed enterprise investment schemes (SEIS).
  • Measures to increase the supply of low-deposit mortgages for credit-worthy households including a government-backed mortgage guarantee scheme from January 2014.
  • Specific anti-avoidance measures alongside the new general anti-abuse rule (GAAR).
We trust that you find the Budget Summary useful, and that it is a helpful basis for a discussion with us about your financial future.
Please CLICK HERE to download your copy.

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