This is our final update for 2015 and Oh, what a year! The proposed changes to dividend taxation was a surprise, over 66,000 of you read our guide on this subject, making it top of our hit parade of this year. Please see the links below to our Dividend Index.

Property prices have continued to soar in our capital and we are on the edge of a land boom as building controls are slackened in order to provide more housing. 2015 also found us doing PRR computations for "right to buy" millionaires. I may wonder what on earth this absurd property bubble will do to our economy long term, although there's no time to think: too many new rules to grasp. We have created a Land and Property update which will help you navigate the maze whether adviser or landlord.

My wish for 2016? I do wish that more use could be made of the redundant property above shops rather than building on green fields. There once was a tax relief to encourage this and it was dropped, maybe this can be revisited?

Back in 2016, Merry Christmas and a Happy New Year.

Nichola Ross Martin FCA Tax Director


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Quick News

Scottish Budget announcements
No change to income tax rates and a 3% additional land and buildings transaction tax charge for transactions involving second homes and buy-to-lets.

Fuel Advisory Rates for company car drivers
New rates applicable from 1 December 2015.

Income Tax: Simple Assessment
HMRC proposes to send a Simple Assessment notice to some taxpayers for 2015/16 which sets out their tax liability without the need for them to submit a self-assessment return.

HMRC's latest Agent Update: At a glance 
A summarised version for you with useful links to our guidance on the different topics covered. 

HMRC's latest Employer Bulletin: At a glance 
A summarised version for you with useful links to our guidance on the different topics covered. 

Editor's Choice

Dividend index
Bookmark this! proposals for 2016/17, current rules, Companies Act and formalities

Land and Property: an Adviser's Tax Update Dec 2015
NEW: as property prices in London continue to soar the government has proposed some major changes to property taxes. This handy summary lists all the latest changes with links to more detailed guides on each topic.

Small Company Tax & OMBs: What's New Nov/Dec 2015
NEW: what's hot and what's not, following the Autumn Statement, we summarise the key developments affecting small companies and their owners. 

Seasonal Guides

Staff parties and annual functions
Topical tips for employers at this festive time.

Gifts: a guide for business gifts 
A time for gifts and giving

Practical Tax Guides & Updates - for subscribers

Savings income: tax on interest
UPDATE: additional examples showing the interaction of the personal savings allowance, the starting rate of tax for savings and the dividend allowance.

IHT: main residence nil rate band
UPDATE: our extended guide to include examples of relief for downsizing.

Trivial Benefits
UPDATE: Finance Bill 2016 includes legislation to exempt trivial benefits from income tax and National Insurance contributions. Our guide include the qualifying conditions and examples.

Orchestra Tax Relief
UPDATE: following publication of the Finance Bill 2016 to reflect changes to the definition of orchestral performance from those proposed following the consultation process.

CPD: for lunch

These are 30 minute structured CPD webcasts available for you direct from our cloud: view when you like from any device

NEW: Property letting
Restriction on relief for interest and finance costs

Missed last time's update?

Nichola's SME Tax Update 11 December 2015

Features updates for:

  • Landlords
  • Directors
  • Companies
  • Private clients
  • Employers

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