Is your income approaching £100,000?20181212040000

Is your income approaching £100,000?

December 12, 2018
For high earning taxpayers, the personal allowance is gradually reduced by £1 for every £2 of adjusted net income that exceeds £100,000 irrespectiv...
When is lettings relief available?20181212040000

When is lettings relief available?

December 12, 2018
In general, there is no Capital Gains Tax (CGT) on a property which has been used as the main family residence. This relief from CGT is commonly known...
How the £1,000 trading allowance works20181212040000

How the £1,000 trading allowance works

December 12, 2018
There is a £1,000 tax allowances for miscellaneous trading income that has been available to taxpayers since April 2017. This is known as the trading...
HMRC writes to taxpayers in Wales20181205040000

HMRC writes to taxpayers in Wales

December 5, 2018
HRMC has written to two million taxpayers in Wales concerning the introduction of the Welsh rates of Income Tax (WRIT) from 6 April 2019. The WRIT wil...
Claim tax relief for job related expenses20181128040000

Claim tax relief for job related expenses

November 28, 2018
Employees who use their own money to buy things they need for their job can sometimes claim tax relief for the associated costs. It is usually only po...
Coding out debts deadline20181128040000

Coding out debts deadline

November 28, 2018
The coding threshold entitles taxpayers to have tax underpayments collected via their tax code, provided they are in employment or in receipt of a UK-...
Tax on savings interest20181128040000

Tax on savings interest

November 28, 2018
In the current tax year, anyone with taxable income of less than £16,850 will have no tax to pay on interest received. This figure is calculated by a...
What is a Personal Tax Account?20181122040000

What is a Personal Tax Account?

November 22, 2018
Personal Tax Accounts (PTAs) were launched in 2015 and works as an online resource to allow taxpayers to review and update their details in real time....
Who must submit a Self Assessment tax return?20181122040000

Who must submit a Self Assessment tax return?

November 22, 2018
There are a number of reasons why a taxpayer needs to complete a Self Assessment return. This includes, if they are self-employed, a company director,...
Directors’ loans – tax consequences for the director20181115040000

Directors’ loans – tax consequences for the director

November 15, 2018
An overdrawn director's loan account is created when a director (or other close family members) 'borrows' money from their company. Many companies, pa...