Nov 30, 2012 | Personal Tax
Child benefit is being withdrawn through an income tax charge in households where someone has an income of over £50,000 per year. If this income is between £50,000 and £60,000 the income charge will apply gradually and only where the income exceeds £60,000 will child...
Oct 8, 2012 | Personal Tax
Additional rate tax payers Individuals with income above £150,000 are subject to additional rate tax at 50%. Although it may seem a fortunate position to be in, giving half your earnings to the tax man is not pleasant. However, after 5 April 2013 this tax rate is...
Sep 26, 2012 | Corporate Tax, Personal Tax
Tax computation Have you ever wandered what adjustments your accountant makes and why? The net profit in the accounts is only the starting point for the calculation of taxable profits, the accountant will make adjustments for the following: Expenses charged in...
Aug 14, 2012 | Payroll, Personal Tax
Benefits in Kind Definition: Employee benefits and benefits in kind (also called fringe benefits or perks) are various non-wage compensations provided to employees in addition to their normal wages or salaries. The term is used by H M Revenue and Customs (HMRC) to...
Jul 31, 2012 | General, Payroll
Pensions for employees From October 2012 and 2017 all employers will need to have a registered pension scheme into which they will auto enrol all eligible staff into and will also have to pay contributions into it. Employees If you have employees: not already in a...
