News Tag Results for "Income Tax"
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Jointly Held Property Tax Savings
With the threshold for 40% tax reducing every year (£35,000 after deducting allowances for 2011/12), it makes sense to review who pays the higher rates o...
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The personal allowance for 2019/20 is set at £12,500 (£11,850 in 2018/19)
The basic rate limit will be increased to £37,500 (£34,500 in 2018-19).
As a result, the hi...
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Autumn Statement Tax Summary
George Osborne did not have great tidings to impart when he presented his Autumn Statement to the House of Commons on 29 November 2011. The best he could...
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Avoid Property Trading Tax
Some people regularly purchase run-down houses, do them up and sell them on. If you do this as part of your building/property development business, the profits made o...
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Budget Update - Individuals
Personal Allowances
These allowances represent the amount of an individual's income in the tax year that is not subject to income tax. Some people...
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Budget Update - Savings and Investments
Enterprise Investment Scheme
Income tax relief for investors is to be proposed to be enhanced as follows:
Rate of income tax relief: 2...
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Child Benefit Clawback
If your net taxable income last year was £50,000 or more you will shortly receive a letter from the Tax Office about child benefit. You can safely bin this message ...
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Confessing to Tax Fraud
The Taxman is currently writing to taxpayers who are suspected of tax fraud, asking them to make a full disclosure of their wrong-doing under the contractual ...
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As announced at Autumn Budget 2017, the government will publish a consultation on the taxation on trusts, to make the taxation of trusts simpler, fairer and more transparent.
From April 2020, the government will introduce a new 2% tax on the revenues of certain digital businesses which derive value from their UK users. The tax will:
* apply to revenues generated fr...
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Q. I recently sold my main residence and down-sized to a smaller property. Unfortunately, because of current economic conditions, the sale price of the house was £30,000 less than I originall...
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Ending enhanced capital allowances for energy and water efficient plant and machinery
The lists of energy efficient and environmentally beneficial technologies and products which are eligible for...
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Expenses and Benefits Reporting
The deadline for submitting the annual returns of expenses and benefits (forms P11D and P9D) to HMRC is 6 July 2013.
The form P11D (P9D for those paid less ...
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Higher Penalties for Late Returns
This month, we have a warning. Please spread the word as HMRC mean business!
Your personal self-assessment tax return for the tax year to 5 Apr...
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HMRC on the Hunt Again
HMRC has run a number of campaigns designed to encourage certain classes of taxpayer to declare their untaxed income. In the past we have seen campaigns aimed at med...
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