Earnings over £100,000? If your taxable earnings for 2015-16 are likely to exceed £100,000, perhaps for the first time, now would be a good time to consider your tax planning options before 6 April 2016. For every £1 your income exceeds £100,000 your income tax personal allowance will be reduced by £2. In effect, when your income reaches £121,200 you Continue Reading
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Wasted opportunity
Most of the UK taxes have exemptions and allowances that apply for each tax year. Many are increased in each year in the March budget. Almost none are transferrable from one tax year to another. If you don’t utilise an allowance, in most cases it is lost forever. This article lists some of the basic allowances you should check out Continue Reading
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Christmas Holiday Hours
We'd like to wish all of our Clients and Friends a very Happy Christmas and we look forward to working with you all in 2016. Our offices will be closed from 5.30pm on 23rd December, reopening on Monday 4th January.
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Landlords despair
On the 8 July 2015, George Osborne announced a number of changes to the taxation of property businesses. Without a doubt the most impactful change is the loss of higher rate tax relief for finance charges, which includes mortgage interest. What he didn’t explain was the not so gentle push of many landlords, who were previously basic rate tax payers, Continue Reading
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