Chancellor George Osborne is mulling plans to cut corporation tax to under 15% in a bid to encourage continued business investment in the UK following the decision to exit the EU
An immediate impact on some elements of our finances has been felt following the UK's vote to leave the EU.Some of the changes may well only be temporary but experts say that they should be taken into consideration when making money choices. Further, more fundamental, changes are expected when the UK negotiates the terms of its exit from the EU. In the intervening months, the health of the UK economy will be key. So, in the short term, this is what has changed:
The final design for the new Bank of England £5 note entering circulation on 13 September has been revealed.
Estate agents have claimed a UK exit from the European Union could wipe thousands of pounds off house values over the next three years. Homeowners in London could lose as much as £7,500, while homes elsewhere in the UK could lose £2,300, the National Association of Estate Agents said.
More than 500m cheques were written in 2015, confounding expectations that the payment method is disappearing.However, Payments UK, which represents the industry, said that still represented a 13% decline on the previous year.
Anyone buying a house that includes a “granny flat” or annex will no longer qualify for the 3% surcharge on Stamp Duty if the annex is worth less than one third of the total property value.
In some countries the tax year coincides with the calendar year, however for us brits this is not the case. To understand the reasoning behind the UK’s tax year start date of 6thApril you have to go back to medieval times.
The introduction of the Marriage Allowance for lower income couples is struggling because of the difficulties taxpayers are experiencing when making a claim.
Details of the new tax-free childcare scheme have now begun to be provided by the Government, the scheme will be available to an estimated two million families in 2017.
Companies house aims to become a 100% digital organisation by the end of 2018/2019. Currently 80% of companies file their documents digitally.