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UK income tax - how confident are you?
With each of the Chancellor’ Budgets, the rules on UK income tax change. Whether your involvement in UK income tax is on behalf of a large corporation or a small entrepreneurial growing business, our UK income tax specialists here at BDO Stoy Hayward are ready to provide quality tax advice.
UK income tax laws are highly complex. In recent years, there have been significant changes to UK income tax in the following areas:
- UK income tax rates
- Tax treatment of pre-owned assets
- Accrued Income Scheme
- Investing in British films
- Jointly owned shares
- Avoidance using life insurance policies
- Capital gains tax rates
- Immediate needs annuities
- Short tax returns - Lloyd’s underwriters
- Community Amateur Sports Clubs (CASCs)
- Modernising the tax system for trusts
- Domicile and residence review
- Offshore funds
- Improvements to venture capital schemes
- Simplification of the taxation of pensions
- Income Tax (Earnings and Pensions) Act 2003 (ITEPA)
- Simplifying inheritance tax (IHT) administration
Our tax services department can help you through this maze, ensuring that you handle all of your UK income tax responsibilities accurately and efficiently. We pride ourselves on providing tax advice that is commercially aware, practical and relevant. Areas of specialism include business tax planning, shareholder and shareowner issues, personal tax planning, and employment solutions.
If you would like quality tax advice on UK income tax, PAYE, NI contributions or any other aspect of tax and financial affairs for your business or yourself, please contact your local BDO Stoy Hayward adviser.
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