On September 1st 2013 a new scheme was introduced by the Finance Act 2013 Schedule 23. This is ‘Employee Shareholder Shares’.
This new piece of legislation concerns a new employee status, namely “employee shareholder”.
There is some debate over the value of this new employee status and whether it provides enough benefits to the employee to counteract some of the sacrifices to employee rights that it incurs.
The Growth and Infrastructure Act 2013 introduced this new term for employee status in employment law but it has also caused a required insert into both tax legislation and... read the full story
It has been a busy year so far here at Salisburys. We have welcomed some news faces and we have been congratulating others on their new qualifications.
We would like to extend an official warm welcome to our new colleagues who have joined the firm recently. Lynne Jones and Rachel Hunter have both joined us this year.
Lynne joins Salisburys as our new full time payroll manager, taking over from Sophie Haywood who will be continuing her studies with us. Lynne started with the firm in July and brings with her a great deal of experience in payroll and administration to Salisburys.
Rachel ... read the full story
Our very own Andrew Rainford has been published into the Practical Tax Newsletter for June and September. In the June addition he has helpfully recounted a success story concerning ‘reasonable belief’ for ESC A19.
Reasonable belief requirement, in terms of the extra statutory concession A19, refers to HMRC using the proof of ‘reasonable belief’ clause to negate ‘writing off’ tax if HMRC failed to make timely use of their information that tax was required to be payed.
According to the extra statutory concession tax can be ‘written off’ if HMRC failed to notify the tax... read the full story
Since the 1st of October the new National Minimum Wage has been in effect.
The National Minimum Wage has been raised in response to recommendations by the independent Low Pay Commission that were presented back in April of 2013.
This rise is intended to improve the living standards of the lowest paid workers at this crucial time when the UK is experiencing signs of economic recovery.
The increase has been met with mixed receptions. The British Chambers of Commerce believe the rise in the National Minimum wage will put pressure on business as recovery has not gone far enough at this st... read the full story
A response to a technical query on transferring deferred Capital Gains (under EIS) to a spouse posted in Taxation published on 11 April 2013 (opens PDF) read the full story
Were there any skeletons, granny taxes or other surprises in the Chancellor's budget this year?
Please click link below for the full report
Budget 2013 newsletter read the full story
With the tax year end just weeks away, it is time to start thinking of maximising your allowances and reliefs in order to save you or your business money. Our latest report offers a glimpse into some of the options available.
Year end tax planning 2013 read the full story
Higher Income Child Benefit Charge
The Finance Act of 2012 contained new legislation intended to claw back Child Benefit (a previously non means-tested allowance) paid to a taxpayer who has net income in any tax year in excess of £50,000.
The methodology appears simple enough at first – it simply withdraws 1% of the total award for every £100 the income level exceeds £50,000, culminating in a full withdrawal where income reaches the £60,000 mark. However as has become customary with tax legislation, the true position is far more confusing and controversial that ... read the full story
We are featured in this months Construction magazine. Please follow the link to the article.
Construction Magazine August
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