by admin | Dec 12, 2018 | Income Tax |
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 allowance. The income raised from these kinds of ventures is usually supplemental to a taxpayer’s main income, but...
by admin | Dec 5, 2018 | Income Tax |
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 will be payable on the non-savings and non-dividend income of those defined as Welsh taxpayers and WRIT taxpayers will...
by admin | Nov 28, 2018 | Income Tax |
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 adding the £5,000 starting rate limit for savings (where 0% of the interest is taxable) to the current £11,850 personal...
by admin | Nov 28, 2018 | Income Tax |
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 possible to claim tax relief for the cost of items used solely for their work.There is no tax relief available if your...
by admin | Nov 28, 2018 | Income Tax |
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-based pension. The coding process applies to certain debts such as Self-Assessment liabilities, tax credit...
by admin | Nov 22, 2018 | Income Tax |
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. For many routine requests and services using the PTA can avoid having to phone or write to HMRC.Every individual in...
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