by admin | Jul 27, 2023 | Uncategorized
The letters in an employee’s tax code signify their entitlement (or not) to the annual tax free personal allowance. The tax codes are updated annually and help employer’s work out how much tax to deduct from an employee’s pay packet. The basic...
by admin | Jul 24, 2023 | Uncategorized
HMRC is awarding £5.5 million to voluntary and community organisations to support customers who may need extra help with their tax affairs. HMRC is inviting eligible organisations to bid for the funding, worth £1.8 million a year from 2024 until 2027,...
by admin | Jul 20, 2023 | Uncategorized
If you have taxable income of less than £17,570 in 2023-24 you will have no tax to pay on interest received. This figure is calculated by adding the £5,000 starting rate limit for savings (where 0% of the interest is taxable) to the current £12,570...
by admin | Jul 20, 2023 | Uncategorized
Most payments a company makes to its shareholders, in respect of their shares, will be qualifying distributions (usually described as dividends) and may be subject to Income Tax. If certain conditions are met, the payment can be treated as an exempt distribution. An...
by admin | Jul 20, 2023 | Uncategorized
The definition of a connected person for tax purposes can be complex. A statutory definition of “connected persons” for Capital Gains Tax purposes is set out in Section 286 of the Taxation of Chargeable Gains Act (TCGA) 1992. The legislation states: "...
