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Tax Updates


Archive of: Income Tax

Making Tax Digital April 2017 Update: Taxpayers must make at least six submissions to HMRC each year

In March 2016 when George Osbourne outlined the new concept of ‘Making Tax Digital’ he said it would herald the death of the tax return by making tax ‘easier’. The idea was sold as a reduction in the administrative burden for taxpayers, but by the end of 2015 we were told that Making Tax Digital would involve sending HMRC quarterly updates. Read more…

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£30k tax-free redundancy payments to be scrapped

The Government is planning to abolish rules under which the first £30,000 of redundancy payments are tax free in a move which will have far reaching implications for companies and employees from 2018. Read more…

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Changing Accounting Date Could Delay Making Tax Digital for Self Employed

Self employed businesses who feel that may need more time to adjust to the requirements of Making Tax Digital could consider changing their accounting date. Read more…

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Accountants & Tax Advisers Face Possibility of Tougher Penalties

Accountants and financial advisers who ‘enable’ tax avoidance could be fined up to 100 per cent of the tax avoided, under proposals announced by the UK Treasury. Read more…

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Accountants & Tax Advisers Face Possibility of Tougher Penalties

Making Tax Digital - Consultation delayed

Uncertainty from the profession continues to grow towards HMRC‘s Making Tax Digital project after the government department cancelled a stakeholder event which was due to take place on 14th July.

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Making Tax Digital - consultation delayed

Budget 2016 - Shake up of Entrepreneurs' Relief and Additional £10mm Lifetime Limit for Investors

In a bid to encourage investment in start-ups and entrepreneurs, this budget removes some barriers to the use of Entreprenuers’ Relief (“ER”) making it easier for companies to pass on companies and farms to family members and is creating a £10mm Lifetime Limit for long-term investors…

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Shake up of Entrepenuers' Relief and Additional £10mm Lifetime Limit for Investors

Budget 2016 - Two New Tax-Free Allowances Introduced

Stating that this was a Budget ‘for the digital age’, Chancellor George Osborne has announced new tax reliefs for individuals using online services such as eBay and Airbnb…

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Two New Tax-Free Allowances Introduced

Tax Relief on Pension Contributions - Potential Changes

George Osbourne announced in the emergency budget in July 2015 that the Government will be cutting the Annual Allowance for those earning over £150,000 from £40,000 per year to £10,000, using a sliding scale.

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Digital Tax Accounts

It is the aim of HMRC‘s newly launched Personal Tax Account to allow taxpayers to “manage” their tax affairs online. By April 2016, HMRC advise that everyone will be able to log into their own “simple, personalised and secure” online account, and view some of the information HMRC holds in respect of their affairs.

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Dividend Taxation Reform - Update

The Conservative government promised no rises in Income Tax, National Insurance or VAT during the current parliament in their election manifesto. However, what they failed to mentioned was that they would be carrying out a complete overhaul of the taxation of dividends from 6 April 2016, introducing new rates of tax.

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Privacy


Camberleigh-Hay LLP is dedicated to protecting the confidentiality and privacy of information entrusted to it. This is a fundamental obligation and Camberleigh-Hay LLP is committed to the appropriate protection and use of personal information that has been collected through its web site.

Our intent is to collect only the personal information that is provided voluntarily by visitors to our web site so that we can offer information and/or services to those individuals. Please review this Online Privacy Statement to learn more about how we collect, use, share and protect the information that we have obtained.

Collection and use of Personal information
We obtain personal information about you if you choose to provide it — for example, to contact mailboxes or to register for certain services. In some cases, you may have previously provided your Personal information to Camberleigh-Hay LLP. By registering and/or submitting personal information on our web site, you are also agreeing to the use of this information in accordance with this Privacy Statement. Your personal information is not used for other purposes, unless we obtain your permission, or unless otherwise required or permitted by law or professional standards. For example, if you send us an email message requesting information about Camberleigh-Hay LLP, we will use your email address and other information you supply to respond to your request.

Camberleigh-Hay LLP only collects "sensitive" personal information when the relevant individuals voluntarily provide us with this information or where such information is required or permitted to be collected by law or professional standards. Please use your discretion if you provide sensitive information to Camberleigh-Hay LLP, and under any circumstances, do not provide Camberleigh-Hay sensitive information unless you thereby consent to Camberleigh-Hay LLP's use of that information for its legitimate business purposes and consent to the transfer of such information to and in Camberleigh-Hay LLP's databases. If you have any questions about whether the provision of sensitive information to Camberleigh-Hay LLP is, or may be, necessary or appropriate for particular purposes, please contact Camberleigh-Hay LLP at the address indicated below.

Automatic collection of Personal information – cookies
In some instances, Camberleigh-Hay LLP automatically collects certain types of information when you visit our web site and through emails that we may exchange. Automated technologies may include the use of web server logs to collect IP addresses, "cookies", and web beacons. The collection of this information will allow us to better understand and improve the performance, usability and effectiveness of Camberleigh-Hay's web site and to measure effectiveness of our marketing activities.

IP addresses
An IP address is a number assigned to your computer whenever you access the internet. It allows computers and servers to recognize and communicate with one another. IP addresses from which visitors appear to originate may be recorded for IT security and system diagnostic purposes. This information may also be used in aggregate form to conduct web site trend and performance analysis.

Cookies
A "cookie" is a small piece of text that a Web site places in the cookie file of your browser and that allows the site to remember who you are. Cookies cannot be used to run programs or deliver viruses to your computer. Camberleigh-Hay LLP only uses cookies in accordance with applicable laws.

Cookies by themselves do not tell us your email address or otherwise identify you personally. If you visit the Camberleigh-Hay LLP web site, we may use cookies to compile aggregate statistics to help us determine what areas of the site visitors prefer. If you subsequently register with the Camberleigh-Hay LLP web site, this information may be linked to a cookie in order to enhance and personalise your online experience (e.g., by welcoming you back when you return or providing you access to your registration information).

You have the choice of deciding whether to accept cookies or not. You can set your browser to notify you when you receive a cookie or to reject cookies. However, please be aware that if you do not accept cookies, you may not be able to fully experience some of our Web site features.

Sharing and transfer of Personal information
We do not share personal information with unaffiliated third parties, except as necessary for our legitimate professional and business needs, to carry out your requests, and/or as required or permitted by law or professional standards. In some instances, Camberleigh-Hay LLP may also share Personal information about you with various outside companies or service providers or vendors working on our behalf to help fulfil your requests.

Choices
You have several choices regarding your use of our sites. In general, you are not required to submit any Personal information when you visit our web site, but Camberleigh-Hay LLP may require you to provide certain Personal information in order for you to receive additional information about our services and events. Certain web sites may also ask for your permission for certain uses of your Personal information, and you can agree to or decline those uses. If you opt-in for particular services or communications, such as an e-newsletters, you will be able to unsubscribe at any time by following the instructions included in each communication. If you decide to unsubscribe from a service or communication, we will try to remove your information promptly, although we may require additional information before we can process your request.

As described above, if you wish to prevent cookies from tracking you as you navigate our sites, you can reset your browser to refuse all cookies or to indicate when a cookie is being sent. Note, however, that some portions of our sites may not work properly if you elect to refuse cookies.

Access
If you have submitted personal information to Camberleigh-Hay LLP, under most circumstances you have the right to reasonable access to that data to correct any inaccuracies. You can also make a request to update or remove information about you by contacting reception@ch-llp.co.uk and we will make all reasonable and practical efforts to comply with your request, so long as it is consistent with applicable law and professional standards.

Data security and integrity
Camberleigh-Hay LLP has reasonable security policies and procedures in place to protect personal information from unauthorised loss, misuse, alteration, or destruction. Despite Camberleigh-Hay LLP's best efforts, however, security cannot be absolutely guaranteed against all threats. To the best of our ability, access to your personal information is limited to those who have a need to know. Those individuals who have access to the data are required to maintain the confidentiality of such information. We also make reasonable efforts to retain personal information only for so long as the information is necessary to comply with an individual's request or until that person asks that the information be deleted.

Links to other sites
Please be aware that Camberleigh-Hay LLP's web site may contain links to other sites where these sites are governed by different privacy statements. We encourage users to review the privacy policy of each Web site visited before disclosing any personal information.

Changes to this policy
Camberleigh-Hay LLP may modify this Privacy Statement from time to time to reflect our current privacy practices. When we make changes to this statement, we will revise the "updated" date at the top of this page. We encourage you to periodically review this Privacy Statement to be informed about how Camberleigh-Hay LLP is protecting your information.

Policy questions and enforcement
Camberleigh-Hay LLP is committed to protecting the online privacy of your personal information. If you have questions or comments about our administration of your personally identifiable information, please contact us at reception@ch-llp.co.uk. You may also use this address to communicate any concerns you may have regarding compliance with our Online Privacy Statement.