Q&A Tax Tips – What you need to do BEFORE the end of the tax year to reduce your tax bill
This month I answer your questions on what you need to do BEFORE the end of the tax year to reduce your tax bill. By addressing these points now, you should have sufficient time to make those all important changes. … Continue reading
Any tax or accountancy questions you would like answering?
Debbie Story writes an editorial for a magazine each month. She gives clear and simple explanations to tax and accountancy questions, tips and advice. Click here to see the June issue. Do you have any tax or accountancy questions that you … Continue reading
Class 2 National Insurance contributions – changes to payment dates
Payments for your Class 2 NICs will now become due on 31 January and 31 July, the same as a Self Assessment tax bill. Previously it was normally collected through a monthly direct debit. For full details go to HMRC … Continue reading
Key tax changes from today (2011/12 verses 2010/11)
The new tax year starts today, bringing with it some changes to the system – including a rise in National Insurance contributions. Detailed below are the key changes. Income tax More tax payers will be included in a higher tax … Continue reading
Budget 2011: George Osborne’s key points
The key points of Chancellor George Osborne’s Budget on 23 March 2011. INCOME TAX No personal tax increases Personal tax allowance to rise a further £630 to £8,015 in April 2012 Consultation on long-term plan to merge income tax and … Continue reading
Budget 2011: What we already know
Tomorrow Chancellor George Osborne will give his annual budget speech. Some of the biggest changes that we already know about are: Income tax The point at which any income tax starts to be paid – known as the personal allowance … Continue reading
Rates and thresholds for 2011/12 have been published
The key points to note for 2011/12 are: Income tax · The personal tax allowance will rise by £1,000 to £7,475. · The higher allowance for those aged 65–74 and aged 75-plus will each go up by £450, to £9,940 … Continue reading
National Insurance contributions holiday
The National Insurance contributions (NICs) holiday is available to new businesses that start up during the period from 22 June 2010 to 5 September 2013. Subject to meeting certain conditions, new businesses may qualify for a deduction of up to … Continue reading
