News Tag Results for "Income Tax"

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1973
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Jointly Held Property Tax Savings

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... more


268
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Autumn Budget 2018 - Personal allowance and income tax threshold

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... more


1984
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Autumn Statement Tax Summary

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... more


1838
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Avoid Property Trading Tax

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... more


1987
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Budget Update - Individuals

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... more


5187
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Budget Update - Savings and Investments

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... more


56
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Budget update 2020-Income tax and NI exemptions for bursary payments to care leavers

Income tax and NI exemptions for bursary payments to care leavers The government has confirmed that it will implement all but one of the recommendations made by Sir Amyas Morse in his review of... more


1610
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Child Benefit Clawback

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 ... more

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2045
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Confessing to Tax Fraud

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 ... more


453
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Consultation on the taxation of trusts

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.


424
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Digital Services Tax

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... more


163
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Down-sizing to a smaller property

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... more


339
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Ending enhanced capital allowances for energy and water efficient plant and machinery

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... more


1598
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Expenses and Benefits Reporting

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 ... more


1676
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Higher Penalties for Late Returns

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... more

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