SEED Enterprise Investment Scheme also known as SEIS tax breaks are worth at least 50% of your investment, but the downside of this is that your money will be tied up for some time. The question being raised in this article is for how long it will be tied before you can get your hands […]
Have you ever thought of claiming a tax deduction for your birthday gift? According to the laws of HMRC, you can freely do so provided that they are used for business purpose. If you spend money on your business, you can expect set off the cost against your tax bill. But as with all other […]
For individuals The income tax personal allowance is set to rise again, not just as scheduled in April 2012, but next year too. It will go up further in April 2013 to £9025.00. This is a step forward towards raising it up to £10000.00. On the otherhand, the 50p tax rate is to be brought […]
Income tax Personal allowance to be raised up to £9,205 from April 2013; this is a move according to the government that will make 24 million people £220 a year better off. But 300,000 more people will be drawn into the higher rate – 40% – tax band from 2013/14 as the threshold is brought […]
Reimbursing expenses to your employees the cost of their business travel etc. is tax and NI free. But is there a possibility of paying a fixed-rate allowance instead to make them better off.
Deadline for filing your tax return For individuals in the UK, the deadline for filing your paper tax return is 31 October each year. For online filing of tax returns the deadline is 31 January each year. If you happen to file you paper tax return after 31 October or your online tax return after […]
The government is suggesting that every taxpayer should be given online access to their personal tax records. This is a recommendation outlined by the public consultation on making the tax system easier to understand. The other steps outlined include pre filled tax returns to people in the tax return system. All taxpayers will be sent […]