Nov 22, 2013 | Personal Tax
Transferable tax allowances (TTA) won’t take effect until 2015/16 and even then the tax savings won’t hit you pocket until Summer of 2016. Who Qualifies Only married couples and civil partners will be entitled to TTA’s. Either you or your spouse must...
Nov 22, 2013 | Bookkeeping, General, Personal Tax
Simplified tax deductions were announced in the budget for accounting periods ending after 5 April 2013 in relation to profits taxable in 2013/14 for unincorporated businesses meaning self employed individuals and partnerships. However you should think carefully...
Jul 31, 2013 | Corporate Tax, Personal Tax
Friend or foe? I often spend time with directors of their new Limited Companies explaining the methods of extraction of funds from the company. One of the aims is to help them avoid getting into the situation of an overdrawn directors loan account which then involves...
Jun 20, 2013 | Personal Tax
Wear and Tear or Renewals? Before 1 April 2013 for Companies and 6 April 2013 for other residential property owners, landlords of furnished residential properties had the following options: Renewals allowance – claim the cost of replacing items such as cookers,...
Apr 30, 2013 | Personal Tax
Employer Supported Childcare (ESC) The Childcare Vouchers scheme currently in place is due to be replaced by the tax free childcare scheme from Autumn 2015. The new scheme will eventually be worth up to £1,200 per child and so save a typical working family with two...
Mar 20, 2013 | Personal Tax
5 April 2013 Once again we are approaching the end of the tax year. At this time of year it is important to look at the annual tax reliefs available and make sure that where possible we have utilised these as many will be lost as soon as we reach 6 April 2013. ISA...
