Income Tax Archives - Elver Consultancy Chartered Accountants Wigan

Basic Income Tax reliefs

Elver Consultancy — Wed, 11 Dec 2019 04:00:00 +0000

As we are now almost three-quarters of the way through yet another tax year it can be useful to consider the benefits of basic Income Tax reliefs. This will help ensure that your tax liability is no higher than

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Child Benefit tax charge

Elver Consultancy — Wed, 04 Dec 2019 04:00:00 +0000

The High Income Child Benefit tax charge could apply to you or your partner if either of your individual taxable earnings exceeds £50,000 and you are in receipt of child benefit. The charge effectively claws back

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Loss of tax personal allowance

Elver Consultancy — Wed, 04 Dec 2019 04:00:00 +0000

If your income is expected to exceed £100,000 for the first time, we would like to remind you of the effects this can have on your personal allowance and marginal tax rate.

If you earn over £100,000 in any

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Basic tax considerations if you come to work in the UK

Elver Consultancy — Wed, 27 Nov 2019 04:00:00 +0000

If you come to live in the UK there are basic tax considerations that you will need to observe. Most importantly, you will be required to pay tax on your income (in excess of any allowances) if you come to live in the

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Final reminder to sign up for Help to Buy

Elver Consultancy — Wed, 20 Nov 2019 04:00:00 +0000

The Help to Buy ISA scheme will close to new savers after 30 November 2019. If you are interested in signing up to the scheme you need to do so ASAP and certainly before midnight on 30 November 2019. If you are a

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Different types of student loan

Elver Consultancy — Wed, 20 Nov 2019 04:00:00 +0000

Student Loans are part of the Government’s financial support package for students in higher education in the UK. They are available to help students meet their living costs while they are studying.

There are two

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HMRC’s tax app

Elver Consultancy — Wed, 13 Nov 2019 04:00:00 +0000

A free HMRC tax app is available to taxpayers.

The APP can be used to see:

your tax code and National Insurance number
an estimate of the tax you need to pay
your income and benefits
up to 12 future tax credits

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Furnished holiday let qualifying tests

Elver Consultancy — Wed, 13 Nov 2019 04:00:00 +0000

The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for certain tax purposes.

In order to qualify as a furnished holiday letting, the

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Interest on children’s savings

Elver Consultancy — Wed, 06 Nov 2019 04:00:00 +0000

All children in the UK have their own personal annual tax allowance. However, anti-avoidance laws prevent this allowance being utilised by parents of children aged under 18 with some minimal exceptions.

If older

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Coding out debts deadline

Elver Consultancy — Tue, 29 Oct 2019 04:00:00 +0000

You can have tax underpayments collected via an adjustment to your PAYE tax code, provided you are in employment or in receipt of a UK-based pension. The coding adjustment applies to certain debts such as Self-Assessment

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