Budget 2012 – Key Points
Income tax From April 2013, the 50p top rate of tax will be cut to 45p. Personal income tax allowance raised to £9,205 from April 2013, making 24 million people £220 a year better off. New general anti-tax avoidance rule … Continue reading
Budget 2012 – What can we expect?
The Budget takes place on Wednesday 21 March and the draft Finance Bill will be published a week later on Thursday 29 March. 50% income tax rate The government has commissioned HMRC to produce a report on the amount of … Continue reading
Top 10 Tax Saving Tips
Most of us would like to pay a bit less tax. We all recognise that taxation is a necessary evil; it provides access to the infrastructure and services that we have come to expect from a modern state. However, an … Continue reading
Tax credit renewal deadline 31 July
What to do now – and what happens if you miss the deadline The 31 July 2011 renewal deadline for tax credits is fast approaching. Most claimants who haven’t renewed yet will need to do something by the deadline, because … Continue reading
Tax Credits – Implications of late reporting of a change in circumstances
A change in circumstances should be reported to the Tax Credit Office within one month. If you realise that you haven’t reported a change on time you should still tell them straightaway on 0845 300 3900. Don’t wait until you … Continue reading
Tax credits – Q: I haven’t yet received a renewal pack. What do I do?
If you haven’t been sent your renewal pack by 15 July 2011, you should contact the Tax Credit Helpline on 0845 300 3900. The Tax Credit Helpline will send you the renewal forms you need. You’ll then have 30 days … Continue reading
Tax Credits – Q: I work 29 hours a week. Is it correct that I’ll get more tax credits if I worked 30 hours?
You get more tax credits if you work over 30 hours per week, as you get the full time element. If you work 16 hours a week then you get part time only. There is no added increment in between … Continue reading
Tax Credits renewal – What happens if I don’t renew before the deadline?
31 July 2011 is the deadline for the renewal of Tax Credits. Therefore this month’s Q & A’s are dedicated to answering your urgent questions on this subject. Q: What happens if I don’t renew before the deadline? A: If … 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
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
