Monthly Archives: October 2016

Restriction of tax relief on finance costs for individual landlords

October 28th, 2016

New provisions will take affect from April 2017, which will see tax relief for finance costs on residential properties being gradually restricted over a period of three years, until, by 2020/21, all financing costs incurred by a landlord will be restricted to the basic rate of income tax. Such finance costs include mortgage interest, interest […]


Lifetime ISA Guidance Updated

October 19th, 2016

HM Treasury has updated its factsheet on the new Lifetime Individual Savings Account (ISA), which are expected to launch in April 2017. Key features of the new ISA include: – Accounts may be opened by investors aged between 18 and 40. – Savings invested in the account before age 50 will attract a government bonus […]


Termination payments consultation

October 10th, 2016

Following a recent consultation, the Office for Tax Simplification (OTS) is currently consulting on proposed changes to the tax and National Insurance Contributions (NICs) treatment of termination payments. The current rules governing termination payments are complex and are sometimes open to manipulation by employers to take advantage of the employer NIC exemption in particular. Employers […]


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