by admin | Apr 14, 2020 | Income Tax |
The R40 form Claim for repayment of tax deducted from savings and investments is available on the GOV.UK website. Individuals who have paid too much tax on interest can use the R40 form to claim back any overpaid tax. The form and associated guidance have been...
by admin | Apr 14, 2020 | Income Tax |
The Let Property Campaign provides landlords who have undeclared income from residential property lettings in the UK or abroad with an opportunity to regularise their affairs by disclosing any outstanding liabilities whether due to misunderstanding the tax rules or...
by admin | Mar 18, 2020 | Income Tax |
In the Budget, the Chancellor set out a package of temporary, timely and targeted measures to support public services, individuals and businesses through the economic disruption caused by COVID-19. One of these measures was to offer the self-employed the opportunity...
by admin | Mar 12, 2020 | Income Tax |
As expected, it has been confirmed that the 2020-21 personal allowance will be maintained at £12,500 and the basic rate limit at £37,500. As a result, the higher rate threshold will also remain at £50,000 from April 2020. The basic rate limit applies...
by admin | Mar 4, 2020 | Income Tax |
Savings income and dividends are taxed at the recipients' highest tax rate. The relevant legislation in ITA07/S16 sets out the following rules. If a person has savings income but no dividend income, the savings income is treated as the highest part of their...
by admin | Feb 19, 2020 | Income Tax |
If you are entitled to the marriage allowance and have not yet applied, you could receive a payment of up to £1,150 from HMRC. HMRC used the occasion of Valentine’s Day to remind couples to make a claim. It is estimated that whilst 1.78 million couples...
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