by admin | Jan 23, 2019 | Income Tax |
A recent press release by HMRC revealed some of the oddest excuses for submitting a late tax return. The excuses ranged from the sublime to the ridiculous and included:My mother-in-law is a witch and put a curse on me. I’m too short to reach the post box. I was just...
by admin | Jan 23, 2019 | Income Tax |
Two changes to the way Private Residence Relief works are due to come into effect from April 2020. These changes could reduce the amount of CGT relief available on the sale of a private residence. The changes are:Home owners that let all or part of their house may not...
by admin | Jan 23, 2019 | Income Tax |
The Welsh Government has confirmed that the proposed Welsh Government Budget has been ratified and that the new Welsh rates of Income Tax (WRIT) will be set at 10p for 2019-20. This means that the rates of Income Tax paid by Welsh taxpayers will continue to be the...
by admin | Jan 16, 2019 | Income Tax |
Taxpayers are usually required to pay their Income Tax liabilities in three instalments each year. The first two payments are due on:31 January during the tax year e.g. for 2018-19 the first payment on account is due on 31 January 2019.31 July following the tax year...
by admin | Jan 16, 2019 | Income Tax |
If you or your partner are a low earner or not working, then you may be eligible for the marriage allowance. The marriage allowance allows lower earning couples to share part of their personal tax-free allowance. The marriage allowance (MA) is available to...
by admin | Jan 16, 2019 | Income Tax |
Most age related tax allowances have been phased out. However, the Married Couple’s Allowance (MCA) is available to elderly married couples or those in a civil partnership where at least one member of the couple were born before 6 April 1935. The allowance...
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