Sep 29, 2020 | COVID 19, Personal Tax
The Self Employment Income Support Scheme (SEISS) In the recent announcement, the chancellor has extended the SEISS for six months with a third and fourth grant being made available. The third grant will cover November 2020 to January 2021 but has been lowered to 20%...
Jun 28, 2017 | Corporate Tax, Personal Tax
There are now several allowances that apply to an individual’s income. The way that they interact mean that you can potentially receive £22,500 of tax-free income for 2017/18. How can you ensure you take maximum advantage? ALLOWANCES For 2017/18, the personal...
May 20, 2015 | General, Payroll, Personal Tax
HMRC has released its 2014/15 benefits and expenses Form P11D plus updated guidance to go with it. Is there anything new to watch out for? P11D deadline. It’s that time of year when you need to turn your attention to preparing the dreaded Forms P11D . A form is needed...
Feb 26, 2015 | Corporate Tax, General, Payroll, Personal Tax
If the director shareholder has no other income and the EA is available, the optimum position will be to take a salary equal to the personal allowance (£883.33 per month) and to withdraw further profits in the form of dividends. Although this approach will result in...
Feb 26, 2015 | General, Personal Tax
In April 2015 the rules about pensions are changing to allow anyone aged 55 or over to draw the whole of their pension fund in one lump sum. Until then stop-gap measures will still apply. However there are tax consequences to the new rules. If you choose to take part...
Jan 31, 2014 | Personal Tax
Child Trust funds and ISAs After 2010 no new Child trust fund bank accounts (CTFs) were allowed; instead children could have money invested on their behalf in a Junior ISA. Both accounts pay interest tax free and an annual maximum, currently £3,720 can be invested...
