1 April 2015 – Due date for Corporation Tax due for the year ended 30 June 2014. 19 April 2015 – PAYE and NIC deductions due for month ended 5 April 2015. (If you pay your tax electronically the due date is 22 April 2015.) 19 April 2015 – Filing deadline for the CIS300 monthly […]
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Following last week’s Budget, the government has published the Finance Bill 2015. The bill implements tax changes announced at Budget 2014, Autumn Statement 2014 and Budget 2015. It includes action by the government to support hardworking families keep more of their hard-earned money by: increasing the personal allowance by an extra £400 to £11,000 from […]
From 6 April 2015 you won’t have to pay tax on interest received if your total income is less than £15,600. As part of a wider relaxation for savers, the recent Budget pledged to introduce a Personal Savings Allowance (PSA) from 6 April 2016. The main features of the new PSA are: If your taxable […]
If you are a first time buyer a new savings scheme introduced in the Budget last week is well worth considering. Nick named the Help to Buy ISA, the ISA will allow you to save up to £200 a month, and if you fulfil the various conditions set out below, the Government will boost your […]
Major mobile networks have confirmed plans to introduce protection for consumers from huge bills run-up on stolen mobiles following Government action. Under the voluntary agreement, five mobile networks – EE, O2, Three, Virgin Media and Vodafone – will protect around 27 million consumers on pay monthly contracts from being hit with shock bills through no […]
The Chancellor has announced that the government will extend its pension freedoms to around 5 million people who have already bought an annuity. From April 2016, the government will remove the restrictions on buying and selling existing annuities to allow pensioners to sell the income they receive from their annuity without unwinding the original annuity […]
Personal Tax and miscellaneous matters Personal Tax allowance The personal allowance for those born after 5 April 1948 will be increased to: For 2015-16 – £10,600 For 2016-17 – £10,800 For 2017-18 – £11,000 From 2016-17, there will be one Income Tax personal allowance regardless of an individual’s date of birth. Income Tax rate bands […]
The Chief Secretary to the Treasury, Danny Alexander, launched the most wide-ranging review of national business rates in a generation this month – paving the way for changes to how businesses across England pay the tax. The review, set to report back by Budget 2016, will examine the structure of the current system which is […]
From 6 April 2015 married couples (and civil partners) will be able to register for the MA. If your income is less than £10,600 in the 2015 to 2016 tax year, you may be able to reduce your husband, wife or civil partner’s tax by up to £212. The new Marriage Allowance will let you […]
County Court Judgements and your credit rating If you get a county court judgment (CCJ) or a high court judgment, it will stay on the Register of Judgments, Orders and Fines for 6 years. For this six year period Banks and loan companies will be aware of the CCJ and will take this into account […]