Mid of March 16-17 has came and soon the FY 16-17 will end. By this time you should sit down and look into your finances and fine-tune your tax plan. If you have not carried out any tax planning yet, time is running out for you. Here are some of the few steps which can help you save tax: Estimate your total income and tax saving investments for entire year...

Why Patwa and Shah (PAS) for Make In India project Make in India is a campaign launched by Modi Government for making India the manufacturing Hub of the world.  For every successful business story, we require following things  Competitive Cost of Manufacturing will lead to competitive sale price Potential Market (Buyers) should be there for our manufactured products Good Supporting government structure for doing business. Let us discuss the above...

Legislation & Rates Legislation included in Finance Bill 2016 implements the new 0% rate for dividend income, as well as changing the rates of tax for dividend income. Once enacted, the changes will apply from 6 April 2016. Broadly, the new nil rate applies to the first £5,000 of a person’s dividend income and is available annually. From 6 April 2016, UK residents pay tax on any dividends received over...

HM Treasury has updated its factsheet on the new Lifetime Individual Savings Account (ISA), which are expected to launch in April 2017. Key features of the new ISA Accounts may be opened by investors aged between 18 and 40. Savings invested in the account before age 50 will attract a government bonus of 25%. A maximum of £4,000 may be saved each year on which the 25% bonus will be...

New provisions will take affect from April 2017, which will see tax relief for finance costs on residential properties being gradually restricted over a period of three years, until, by 2020/21, all financing costs incurred by a landlord will be restricted to the basic rate of income tax. Such finance costs include mortgage interest, interest on loans to buy furnishings and fees incurred when taking out or repaying mortgages or...

What is the Employment Allowance (EA) Broadly, the allowance entitles the vast majority of businesses, charities, and community amateur sports clubs to a reduction of up to £3,000 per year on their employer National Insurance Contributions (NICs) bill. Technical Consultation HMRC have launched a technical consultation on proposals to restrict the EA from employers of ‘illegal workers’. The consultation is open for comments until 3 January 2017. Budget 2016 announced...