Tax Tables for 2015/2016

Hot off the press, our latest tax tables for 2015/2016 are now available for you to download. This handy guide has all the latest tax rates/allowances and is a must for every office!

Baillie 2015.16 Tax Tables

We’re more than happy for you to share these handy tax tables with your friends and colleagues!

If you have any questions regarding this subject or any other accounting/tax issue, please feel free to contact us.

New ISA allowance from 1st July !

From July 1 2014 all ISAs will become New ISAs (NISAs). This applies to all existing ISAs and new accounts opened after 1 July. The Government is changing the name to reflect the significantly increased limits and flexibility that will be available to account holders.

The NISA will be more generous and will offer flexibility to save your NISA annual allowance of £15,000 in cash, stocks and shares or any combination of the two. Under the NISA rules you will also be able to transfer previous years’ ISA savings freely between stocks and shares and cash if you wish.

What is changing on 1 July 2014?

From 1 July 2014, you will be able to split the amount you pay into an ISA between a Cash NISA and a Stocks and Shares NISA as you choose – up to the new overall annual NISA limit of £15,000. Previously, it has only been possible to save up to half of the overall ISA subscription limit in a Cash ISA.

Any subscriptions you have made to an ISA since 6 April 2014 will count against the £15,000 NISA subscription limit for 2014-15.

If you have paid into a Cash or Stocks and Shares ISA since 6 April 2014, you will not be able to open a further NISA of the same type before 6 April 2015. You may however make additional payments – up to the £15,000 NISA subscription limit – into your existing account(s) or by transferring those account(s) to another provider that will allow additional amounts to be added.

What does this mean for you ?  On a practical level, if you only use cash ISA’s, then from today you can invest an additional £9,060.

As always, please feel free to share this ! And if you have any questions, please do not hesitate to contact us.

Tax Guides Edition 8 – Pension Flexibility

In our latest guide, we address the matter of pension flexibility, not the most exciting topic I hear you cry, however with recent developments and particularly the 2014 budget proposals, pensions now offer a greater flexibility and control in addition to being a very tax efficient means of saving.

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Please feel free to share the guide with any of your friends or colleagues, and if you have any questions, please contact us.

Tax Guides Edition 7 – Business Succession Planning

This guide explains the issues faced by business owners when an unplanned business exit is forced upon us and the contingencies we should all consider.

Later on in our series we will issue a guide covering a strategically planned or managed sale of a business.

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We’re more than happy for you to share these handy tax tables with your friends & colleagues !

If you have any questions regarding this subject or any other accounting / tax issue, please feel free to contact us.

Posted in Tax

Tax tables 2014/2015

Hot off the press, our latest tax tables for 2014/2015 are now available for you to download. This handy guide has all the latest tax rates / allowances and is a must for every office !

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We’re more than happy for you to share these handy tax tables with your friends & colleagues !

If you have any questions regarding this subject or any other accounting / tax issue, please feel free to contact us.

Tax Guides Edition 5 – High Tax Environment

Our latest guide explains the best strategies for dealing with the current high tax environment we find ourselves in. The UK economy is growing at it’s fastest rate since the financial crisis which is great news, however we are still subject to austerity measures which result in spending cuts and tax increases.

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Our business is built on delivering great quality service & client referrals, so feel free to share this with any of your friends & associates.

As always, if you have any questions, please contact us.

Tax Guides Edition 4 – Drawing profits from a business

For an owner managed business, drawing profits from a business effectively is high up on the priority list. So our fourth free guide will give you some usefull pointers !

Baillie Chartered Certified Accountants – Key Guides – Profits from a company

Our business is built on delivering great quality service & client referrals, so feel free to share this with any of your friends & associates.

As always, if you have any questions, please contact us.