by admin | Apr 13, 2023 | Uncategorized
A reminder that there are two separate annual £1,000 tax allowances for property and trading income. If you have both types of income highlighted below, then you can claim a £1,000 allowance for each. The £1,000 exemptions from tax apply in the...
by admin | Apr 13, 2023 | Uncategorized
If you earn over £100,000 in any tax year your personal allowance is gradually reduced by £1 for every £2 of adjusted net income over £100,000 irrespective of age. This means that any taxable receipt that boosts your income over...
by admin | Apr 13, 2023 | Uncategorized
There is a flexible exemption from IHT for taxpayers who make tax exempt gifts and payments that are paid as normal expenditure out of income. With proper planning this can be a useful tool to enable grandparents, for example, to help pay school fees for their...
by admin | Apr 13, 2023 | Uncategorized
Students that work may need to pay Income Tax and National Insurance. Employers are required to calculate the amount of tax they need to pay on the basis that the students would be working for the rest of the tax year. This means that an overpayment of Income Tax can...
by admin | Apr 13, 2023 | Uncategorized
Employers must ensure they are paying staff at least the National Minimum Wage (NMW) or National Living Wage (NLW). The NMW and the NLW are the minimum legal amounts that employers must pay their workers. The new NMW and NLW rates came into effect on 1 April 2023. The...
