Key 2019/20 UK Tax Changes for websters Sydney Clients

08/04/2019
Key 2019/20 UK Tax Changes for websters Sydney Clients

Personal Tax Personal allowance will increase from £11,850 to £12,500. Individuals (other than Scottish residents) will only be liable to higher rate tax if their total income exceeds £50,000 (before the personal allowance). For Scottish residents, the higher rate will apply if an individual’s total income exceeds £43,430. The higher rate in Scotland is 41%,…

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2019 Year End Tax Planning – Australia

08/04/2019
2019 Year End Tax Planning – Australia

As the 2019 financial year draws to a close on 30 June 2019, the below outlines some key tax planning strategies which could be implemented to increase tax efficiency. Prepaying Tax-Deductible Expenses Per the general prepayment rules, if you incur certain allowable deductible expenses in the year which relate to an eligible service period which…

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Principal Private Residence relief (PPR) – ‘bolt-on’ periods to be radically reduced

18/02/2019

PPR relief has been a highly valuable tax relief against the gains arising on the sale of a property that is or has been an individual’s only or main residence. The relief is essentially a time apportioned relief for periods of occupation of the property as a home, with a number of bolt-on periods where…

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Probate fees hike will go ahead after all

18/02/2019

Clients will be aware that the Government had plans to significantly increase probate fees back in 2016, but these were dropped ahead of the 2017 snap general election. However, despite considerable opposition, the proposal reared its head again, and was confirmed in November 2018, with the Government arguing that significant rises to probate fees were…

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Two new members of staff

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18/02/2019

Victoria Kingman CTA Victoria joined websters in October 2018 and works in our Cambridge and Histon offices. In addition to managing her own portfolio of clients she oversees the UK tax return process in both offices ensuring that the work is of the highest standard and deadlines are met. Victoria has built up significant experience…

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Shareholders Relocating to Australia – UK Company Issues

05/11/2018

As well as the personal matters shareholders face when relocating themselves to a different country, consideration should also be given to the effect on the UK company. In Australia, from a tax perspective, receipts on liquidation are treated differently than those in the UK. This can cause significantly increased tax liabilities, which could have been…

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