by admin | Nov 22, 2018 | Income Tax |
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, have an annual income over £100,000 and / or have income from savings, investment or property.Taxpayers that need to...
by admin | Nov 15, 2018 | Income Tax |
An overdrawn director’s loan account is created when a director (or other close family members) ‘borrows’ money from their company. Many companies, particularly ‘close’ private companies, pay for personal expenses of directors using...
by admin | Nov 7, 2018 | Income Tax |
The High Income Child Benefit Charge (HICBC) came into force in January 2013. It applies to taxpayers whose income exceeds £50,000 in a tax year and who are in receipt of child benefit. The charge claws back the financial benefit of receiving child benefit either...
by admin | Nov 7, 2018 | Income Tax |
The introduction of Making Tax Digital (MTD) will fundamentally change the way businesses, the self-employed and landlords interact with HMRC. The new regime will require businesses and individuals to register, file, pay and update their information using a new online...
by admin | Oct 31, 2018 | Income Tax |
The Chancellor has confirmed that from 2019-20 the personal allowance will increase to £12,500 (an increase from the current £11,850 allowance) and the basic rate limit to £37,500. As a result, the higher rate threshold will increase to £50,000 from April 2019. These...
by admin | Oct 31, 2018 | Income Tax |
HMRC has published a news release to remind taxpayers that there is now less than 100 days to file their 2017-18 tax return. Last year over 11 million taxpayers completed a 2016-17 self assessment tax return, with 10.7 million of these taxpayers doing so on time.The...
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