Welcome to your first newsletter of 2017. There were a number of developments during 2016 which we have reported on, including a round-up of the announcements made in the Philip Hammond’s first – and last – Autumn Statement. We hope you enjoy reading it.
The topics covered in this issue include:
- Tax allowances: use them or lose them With the end of the tax year fast approaching there are opportunities for final tax planning in order to manage your tax affairs more efficiently.
- The last Autumn Statement The main points to take from the new Chancellor’s first – and last – Autumn Statement are discussed.
- Voluntary contributions to your state pension To make sure that you are entitled to receive the full rate of the new state pension, there are various options available for individuals to make voluntary contributions.
- Limits on pension contributions Higher earners are now subject to tight limits on how much they can pay into tax-relieved pension schemes. It’s essential to take care to avoid a substantial extra tax charge.
- A round-up of payroll If you are not using HM Revenue & Customs’ payrolling benefits in kind service for 2016/17, you need to register online before 5 April 2017 if you want to use it for 2017/18.
- Buy to let: a taxing issue April marks the start of another measure designed to increase tax for Buy To Let investors.
We hope you find the contents of this newsletter useful and
informative and, as always, let us know if you think you may be affected
by any of the topics in this edition.