Are you missing out on tax credits?

There has been much commentary in recent months reminding tax payers who claim tax credits to file their renewals application before the 31 July deadline. But apparently, many applications have been made incorrectly, and as a result, claimants are not collecting the full amount to which they are entitled. According Read more…

Advance notice

Last week the Treasury issued draft clauses for the forthcoming Finance Bill (to be published after the Autumn Budget later this year). These will set the scene for tax matters 2019-20 and beyond. The aim of the advance notice is to give interested parties a chance to comment on the Read more…

Income Tax Rates and Personal Allowances

Are you paying too much income tax

When your income exceeds £100,000 for income tax purposes your entitlement to a tax free personal allowance (£11,850 for 2018-19) is reduced by £1 for every £2 that your income exceeds this threshold. Which means, when your income reaches £123,700, you no longer qualify for a personal allowance. The effect Read more…

Are you due a tax refund

There is something uniquely satisfying about a tax refund. Of course, you must first overpay tax before it can be refunded, but there is a universal joy in receiving a cheque or direct payment to your bank account from HMRC. Occasionally, HMRC will volunteer the information, they may even send Read more…

Time to raid piggy banks

From the 1 March 2018, the old-style £10 notes featuring Charles Darwin, ceased to be legal tender. A recent announcement by Companies House suggests the following actions: Time is ticking for the old paper £10 banknote. We’re advising all businesses to take ‘note’, as there’s just a few days left Read more…