To illustrate how important it is to ensure the correct treatment of payments to directors as salary or dividends, a recent legal case has confirmed the position – The case in question is Richard and Julie Jones v HMRC [2014] UKFTT 1082 (5 December 2014). They took a small salary and regular dividends from their […]
TAKE ADVANTAGE OF YOUR 2014/15 ISA ALLOWANCES Your maximum annual investment in ISAs for 2013/14 is £15,000. Your investment needs to be made before 6 April 2015. In addition, have you thought about investing for your children or grandchildren by setting up junior ISAs or pensions? In the 2014/15 tax year, you can invest £4,000 […]
THE £2,000 EMPLOYMENT ALLOWANCE CONTINUES FOR 2015/16 The £2,000 “employment allowance” introduced in 2014/15 continues to be available for 2015/16. Note that this allowance provides relief from paying employers NIC on the first £2,000 of contributions. The £2,000 allowance is set against employers NIC on a cumulative basis during the tax year. The allowance is […]
MAKE CHARITABLE PAYMENTS UNDER GIFT AID TO SAVE MORE TAX Higher rate taxpayers should make any charitable payments under Gift Aid so that you obtain additional tax relief. The charity will also be able to reclaim the basic rate tax from HMRC
A new tax break from 6 April 2015, which will be eligible to more than 4 million married couples and 15,000 civil partnerships. The Allowance means a spouse or civil partner who doesn’t pay tax – therefore is not earning at all or is earning below the basic rate threshold (£10,600) – can transfer up […]
The company car remains a key part of the remuneration package for many employees, but it is important to consider the tax and national insurance implications of your company car arrangements. Employees and directors pay tax on the provision of the car and on the provision of fuel by employers for private mileage. Employers pay […]
Really pleased to report that I’m just over half way there with raising £2,000 for NSPCC. Please support me by visiting my JustGiving page : www.justgiving.com/Lisa-Compton2