Archives: December 2015

Entrepreneurs Relief: Closing Loopholes

Rules surrounding entrepreneurs relief have narrowed considerably with 2015’s Budget.  This valuable capital gains tax relief entitles company directors who own at least 5% of a company to benefit from a 10% tax rate on eligible disposals (up to a lifetime limit of £10 million) – as opposed to...

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Death of the annual tax return: a nail in the coffin for accountants?

In his 2015 Budget, George Osborne confirmed plans to scrap the requirement to submit annual self-assessment tax returns in favour of a digital tax account system – the intention being to enable individuals and small businesses to submit accounts throughout the year via computer, tablet or smartphone. Assuming a...

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INPACT Wins Global Rising Star Award

Stanes Rand was extremely proud to be accepted as members of INPACT International in 2014, acting as sole representatives for Cambridgeshire and beyond.   INPACT are a world-class accounting alliance comprising more than 140 accounting firms across 60 countries worldwide.  Being accepted as a member reinforced our credentials as a firm...

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Using your pension pot as a tax free way to pass on wealth

Having introduced auto-enrolment in an attempt to improve pension saving in the UK, it seemed fitting that the government reform pensions per se to make them a more appealing option.  The Budget delivered in March 2015 certainly did not disappoint in this respect. Commencing April 2016, savers will have...

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Inheritance Tax changes breed discontent

  Policies that fail to benefit society equally invariably attract criticism to some degree.  This is certainly the case with regards to Inheritance Tax (IHT) on which the spotlight has shone brightly since the Chancellor’s second budget this year.  Without meaning to dismiss the current IHT nil rate band...

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Landlords tax relief reduced

At present, landlords are entitled to claim tax relief at their top level of tax on monthly interest repayments in relation to any loan taken out to buy, improve or maintain residential buy-to-let properties (for example mortgage interest, interest on loans to buy furnishings and fees incurred when taking...

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Are you concerned about the forthcoming changes to dividends?

The proposed new taxation system for dividends, announced by George Osborne in the Second Budget 2015, is evidently one of ‘give and take’ – while individuals will be given an annual £5,000 dividend tax allowance from 6 April 2016, the long-established dividend tax credit is to be taken away....

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Barclays offers debt finance to help technology companies grow

With well-known US companies such as Facebook and Google having used debt finance to help grow their business in the early stages, it was perhaps only a matter of time until UK companies were afforded the same fortuity. Having identified “a significant gap in the traditional way technology businesses...

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Social Investment Tax Relief: a tax incentive to make the world a better place

Considerable recognition has been given to two investing tax schemes in recent years, namely the Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS).  Whilst these marked the government’s intention to encourage investment in start-up companies and early stage ventures, a further scheme was introduced in 2014 to...

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School Fees Tax Planning – an effective tool

School fees represent a significant cost (with latest figures averaging them upwards of £15,000 per year) to parents who opt to educate their children at fee-paying schools.  With a number of independent schools in Cambridge alone, this is a real issue for many parents in our region.  Regardless of...

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