Dividend Tax changes set to hit small business owners and investors

Changes to the Dividend Tax regime, which will see the existing tax-free allowance fall from £5,000 to £2,000 from April next year, are set to hit small business owners and investors.

The changes currently being considered by MPs as part of the Finance Bill 2017-19 had been delayed when what is now the Finance Act 2017 was dramatically cut down in order to secure its passage through Parliament ahead of June’s snap General Election. Continue reading

Students could be entitled to a tax refund as they head back to university

Students who have been heading back to university in recent weeks could be entitled to a helpful tax refund, according to HM Revenue & Customs (HMRC).

Those who worked through their summer holidays may have been taxed through PAYE, as if they were earning at that level year-round, but it is unlikely that their earnings will have exceeded the personal tax-free annual allowance of £11,500. Continue reading

All change for the UK’s cash

It’s all change when it comes to cash. Last month saw the introduction of a new £10 note and this month sees our last chance to spend the old round £1 coin.

Following on from the new Churchill £5 note, the new £10 note is made from the same polymer material, with sophisticated built-in security features. Continue reading

Cricket club stumped by VAT dispute

An Oxfordshire cricket club has been left having to stump up a hefty tax bill after losing a VAT dispute.

Despite the common misconception that charitable organisations are exempt from VAT, Eynsham Cricket Club was forced to pay 20 per cent VAT in respect of works to construct its new pavilion. Continue reading

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