Jackson Stephen Blog

This is where we air our opinions or pass on our thoughts and comments on occasion, when the mood takes us. Usually about business matters, it must be said.

The general idea is to disprove the notion that accountants say nothing at dinner parties! We have even been known to be amusing! Read on.

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Treasury to review 2019 Loan Charge

The Treasury has been forced to agree to review its controversial 2019 loan charge proposals, which are designed to tackle disguised remuneration, by the end of March after a cross-party group of MPs were successful in pushing through an amendment to the Finance Bill.

11-Jan-2019

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​Gifts To Charity

Where possible higher rate taxpayers should “Gift Aid” any payments to charity to provide additional benefit to the charity and for the individual to obtain additional tax relief on the payment.

6-Dec-2018

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Certain Gifts Can Have Capital Gains Tax Consequences

Although there will be no CGT on gifts of cash there may be CGT to pay where the gift comprises shares or other assets. This is because the transaction will generally be deemed to take place at market value between connected persons even though no money changes hands.

6-Dec-2018

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Gifts Of Up To £50 To Employees

From April 2016 new rules were introduced to allow employers to provide their directors and employees with certain “trivial” benefits in kind tax free.

06-Dec-2018

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Gifts Out Of An Income Are Not Taken Into Account For IHT

​A more generous inheritance tax exemption applies where the donor can prove that he or she is not transferring capital but is making gifts out of their income.

06-Dec-2018

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Increase in Probate Fees from April 2019

On 5th November 2018 the Ministry of Justice (MOJ) announced a measure which will see probate fees in England and Wales paid to the Government by some estates increase by almost £6,000.

06-Dec-2018

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The IHT Annual Exemption - Use it or Lose it!

Although not particularly generous at £3,000 per donor per annum if this annual IHT exemption is not used by 5 April it is lost, although it is possible to carry the allowance forward one year if unused.

06-Dec-2018

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Changes to Capital Gains Tax from April 2019

The change is currently proposed to apply to gains arising on or after April 2019. The intention is to align the UK with most other countries who also apply these rules and remove an advantage which non-residents have over UK residents by bringing all gains on non-resident disposals of UK property within the scope of UK tax.

21-Nov-2018

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Payment of Stamp Duty Land Tax

Both Residential and Commercial Property Owners need to be aware that the Government is reducing the amount of time that is allowed to pay Stamp Duty Land Tax (SDLT) from 1 March 2019

21-Nov-2018

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Autumn Budget 2018 - Headline Announcements

In today’s Budget, the Chancellor Philip Hammond signalled an end to the era of austerity in a Budget that “shows the hard work of British people has paid off.”

The lead up to the Budget has somewhat been overcast with Brexit taking the headlines for many months and as part of his Budget speech the Chancellor commented that Brexit negotiations were at a “pivotal stage” but that if we “get it right we will harvest a double dividend.”

29-Oct-2018

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