Johnston Smillie Ltd

Johnston Smillie Ltd
Johnston Smillie Ltd
Page Metadata Update

New page description detected.

  • New: Since 1 April 2016 there has been a 3% supplementary charge on both Stamp Duty Land Tax (SDLT) and Land & Buildings Transaction Tax (LBTT) payable on the purchase of second and subsequent residential properties costing more than £40,000. This was clearly aimed at buy-to-let investors as well as those buying second homes. Note that this additional 3% …
  • Old: We have a ‘dress-down’ day each Friday. Staff are asked for a £1 donation which goes towards our chosen charity for the year. This year the money is going to SMA Support UK. At certain times of the year we make the dress down day themed and hold a competition amongst the staff.  We have …
Johnston Smillie Ltd
Johnston Smillie Ltd
Page Metadata Update

New page description detected.

  • New: Since 1 April 2016 there has been a 3% supplementary charge on both Stamp Duty Land Tax (SDLT) and Land & Buildings Transaction Tax (LBTT) payable on the purchase of second and subsequent residential properties costing more than £40,000. This was clearly aimed at buy-to-let investors as well as those buying second homes. Note that this additional 3% …
  • Old: HM Revenue and Customs have acknowledged that their software and some commercial software used by accountants doesn’t always come up with the right amount of tax payable! You may have seen this reported in some newspapers such as the Daily Telegraph. This arises because the tax system of different income tax personal allowances, dividend allowances …
Johnston Smillie Ltd
Johnston Smillie Ltd
Page Metadata Update

New page description detected.

  • New: Since 1 April 2016 there has been a 3% supplementary charge on both Stamp Duty Land Tax (SDLT) and Land & Buildings Transaction Tax (LBTT) payable on the purchase of second and subsequent residential properties costing more than £40,000. This was clearly aimed at buy-to-let investors as well as those buying second homes. Note that this additional 3% …
  • Old: The Guest House and B&B sector is characterised by a significant turnover in business ownership. Business values transferred on change of ownership can be significant and, as ever, there is potential for loss of value and tax traps on all sides for the unwary.   This is therefore a situation where in reaching a transaction value, …
Johnston Smillie Ltd
Johnston Smillie Ltd
Page Metadata Update

New page description detected.

  • New: We have a ‘dress-down’ day each Friday. Staff are asked for a £1 donation which goes towards our chosen charity for the year. This year the money is going to SMA Support UK. At certain times of the year we make the dress down day themed and hold a competition amongst the staff.  We have …
  • Old: The Guest House and B&B sector is characterised by a significant turnover in business ownership. Business values transferred on change of ownership can be significant and, as ever, there is potential for loss of value and tax traps on all sides for the unwary.   This is therefore a situation where in reaching a transaction value, …
Johnston Smillie Ltd
Johnston Smillie Ltd
Page Metadata Update

New page description detected.

  • New: We have a ‘dress-down’ day each Friday. Staff are asked for a £1 donation which goes towards our chosen charity for the year. This year the money is going to SMA Support UK. At certain times of the year we make the dress down day themed and hold a competition amongst the staff.  We have …
  • Old: An Improvement to Pay As You Earn (PAYE) As part of the preparation for Making Tax Digital, from the end of May 2017 HMRC will use real time information from employers and pension providers to make adjustments to taxpayers’ PAYE codes throughout the year. Taxpayers with employment or pension income should therefore pay the right …
Johnston Smillie Ltd
Johnston Smillie Ltd
Page Metadata Update

New page description detected.

  • New: HM Revenue and Customs have acknowledged that their software and some commercial software used by accountants doesn’t always come up with the right amount of tax payable! You may have seen this reported in some newspapers such as the Daily Telegraph. This arises because the tax system of different income tax personal allowances, dividend allowances …
  • Old: An Improvement to Pay As You Earn (PAYE) As part of the preparation for Making Tax Digital, from the end of May 2017 HMRC will use real time information from employers and pension providers to make adjustments to taxpayers’ PAYE codes throughout the year. Taxpayers with employment or pension income should therefore pay the right …
Johnston Smillie Ltd
Johnston Smillie Ltd
Page Metadata Update

New page description detected.

  • New: The Guest House and B&B sector is characterised by a significant turnover in business ownership. Business values transferred on change of ownership can be significant and, as ever, there is potential for loss of value and tax traps on all sides for the unwary.   This is therefore a situation where in reaching a transaction value, …
  • Old: An Improvement to Pay As You Earn (PAYE) As part of the preparation for Making Tax Digital, from the end of May 2017 HMRC will use real time information from employers and pension providers to make adjustments to taxpayers’ PAYE codes throughout the year. Taxpayers with employment or pension income should therefore pay the right …
Johnston Smillie Ltd
Johnston Smillie Ltd
Page Metadata Update

New page description detected.

  • New: The Guest House and B&B sector is characterised by a significant turnover in business ownership. Business values transferred on change of ownership can be significant and, as ever, there is potential for loss of value and tax traps on all sides for the unwary.   This is therefore a situation where in reaching a transaction value, …
  • Old: For deaths on or after 6 April 2017 there is now an additional £100,000 inheritance tax (IHT) allowance where the family home is passed on to direct descendants. This additional relief will be increased annually until it reaches a maximum of £175,000 by 2020. Furthermore, where the relief was not used on the death of the first spouse, it is …
Johnston Smillie Ltd
Johnston Smillie Ltd
Page Metadata Update

New page description detected.

  • New: An Improvement to Pay As You Earn (PAYE) As part of the preparation for Making Tax Digital, from the end of May 2017 HMRC will use real time information from employers and pension providers to make adjustments to taxpayers’ PAYE codes throughout the year. Taxpayers with employment or pension income should therefore pay the right …
  • Old: For deaths on or after 6 April 2017 there is now an additional £100,000 inheritance tax (IHT) allowance where the family home is passed on to direct descendants. This additional relief will be increased annually until it reaches a maximum of £175,000 by 2020. Furthermore, where the relief was not used on the death of the first spouse, it is …
Johnston Smillie Ltd
Johnston Smillie Ltd
Page Metadata Update

New page description detected.

  • New: An Improvement to Pay As You Earn (PAYE) As part of the preparation for Making Tax Digital, from the end of May 2017 HMRC will use real time information from employers and pension providers to make adjustments to taxpayers’ PAYE codes throughout the year. Taxpayers with employment or pension income should therefore pay the right …
  • Old: New tax free allowances started on 6 April The £5,000 dividend allowance and £1,000 savings allowance have been with us since 6 April 2016. There are now two further allowances available since 6 April 2017. There are concerns that these have not been widely publicised and not properly understood. The first £1,000 allowance is against …
Johnston Smillie Ltd
Johnston Smillie Ltd
Page Metadata Update

New page description detected.

  • New: Is your company planning on purchasing a new vehicle? Is it time to go green? Under current tax rules, low emission cars qualify for 100% tax relief in the year of purchase against profits provided certain criteria is met: CO2 emissions must be < 75g/km (50g/km from April 2018). The vehicle must be purchased new. …
  • Old: New tax free allowances started on 6 April The £5,000 dividend allowance and £1,000 savings allowance have been with us since 6 April 2016. There are now two further allowances available since 6 April 2017. There are concerns that these have not been widely publicised and not properly understood. The first £1,000 allowance is against …
Johnston Smillie Ltd
Johnston Smillie Ltd
Page Metadata Update

New page description detected.

  • New: New tax free allowances started on 6 April The £5,000 dividend allowance and £1,000 savings allowance have been with us since 6 April 2016. There are now two further allowances available since 6 April 2017. There are concerns that these have not been widely publicised and not properly understood. The first £1,000 allowance is against …
  • Old: For deaths on or after 6 April 2017 there is now an additional £100,000 inheritance tax (IHT) allowance where the family home is passed on to direct descendants. This additional relief will be increased annually until it reaches a maximum of £175,000 by 2020. Furthermore, where the relief was not used on the death of the first spouse, it is …
Johnston Smillie Ltd
Johnston Smillie Ltd
Page Metadata Update

New page description detected.

  • New: New tax free allowances started on 6 April The £5,000 dividend allowance and £1,000 savings allowance have been with us since 6 April 2016. There are now two further allowances available since 6 April 2017. There are concerns that these have not been widely publicised and not properly understood. The first £1,000 allowance is against …
  • Old: For deaths on or after 6 April 2017 there is now an additional £100,000 inheritance tax (IHT) allowance where the family home is passed on to direct descendants. This was originally announced on 8 July 2015 and that date is relevant where the deceased has downsized to a lower value property. This additional relief increases …
Johnston Smillie Ltd
Johnston Smillie Ltd
Page Metadata Update

New page description detected.

  • New: New tax free allowances started on 6 April The £5,000 dividend allowance and £1,000 savings allowance have been with us since 6 April 2016. There are now two further allowances available since 6 April 2017. There are concerns that these have not been widely publicised and not properly understood. The first £1,000 allowance is against …
  • Old: My employee is a casual worker – Do I need to consider Auto Enrolment for them? The Auto Enrolment regime is now in full flow with approximately 102,000 small employers (5-49 staff) having staged in the first quarter of 2017/2018. The number of employers staging in quarters 2, 3 and 4 in 2017/2018 are reported …
Johnston Smillie Ltd
Johnston Smillie Ltd
Page Metadata Update

New page description detected.

  • New: For deaths on or after 6 April 2017 there is now an additional £100,000 inheritance tax (IHT) allowance where the family home is passed on to direct descendants. This additional relief will be increased annually until it reaches a maximum of £175,000 by 2020. Furthermore, where the relief was not used on the death of the first spouse, it is …
  • Old: My employee is a casual worker – Do I need to consider Auto Enrolment for them? The Auto Enrolment regime is now in full flow with approximately 102,000 small employers (5-49 staff) having staged in the first quarter of 2017/2018. The number of employers staging in quarters 2, 3 and 4 in 2017/2018 are reported …

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