The personal allowance for 2018/19 is £11,850. However, some individuals do not benefit from the full personal allowance. There is a reduction in the personal allowance for those with ‘adjusted net income’ over £100,000, which is £1 for every £2 of income above £100,000. So for 2018/19 there is no personal allowance where adjusted net […]
The UK Budget set out an increase in the personal allowance, which rises from £11,500 in 2017/18 to £11,850 in 2018/19. The basic rate band is £33,500 in 2017/18 and £34,500 in 2018/19. So the threshold at which the 40% band applies increases from £45,000 to £46,350 for those who are entitled to the full […]
Overseas investors who buy UK residential properties only pay UK tax on the gains accrued since 6 April 2015, and they pay no UK tax on the gains made from selling UK commercial properties. This gives them a big tax advantage over UK-based investors.
With effect from 6 April 2016, a new savings allowance is to be introduced under which the first £1,000 of interest earned each year by basic rate taxpayers and the first £500 of interest earned by higher-rate taxpayers will be free of tax.
Venture Capital Trusts (VCTs) and Enterprise Investment Schemes (EIS) represent tax-advantaged opportunities to invest equity capital into very small and often very early stage – or even start-up – privately held businesses(1).