Minimising Family Tax

This is a good time to look forward to 2012/13 and assess who will be earning what in your family. The level of personal allowances (tax free income) have increased significantly over the last two years, and are increasing again … Continue reading

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2012 Budget Summary

The Chancellor promised a Budget which “unashamedly backs business”. We summarise the main tax changes below: 1. The main rate of corporation tax will be cut from 26% to 24% from April 2012 and will be reduced to 22% by … Continue reading

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Did you miss the Self Assessment filing deadline?

Around 850,000 people apparently missed the 31 January 2012 Self-Assessment filing deadline. If you are one of them you’ll have received a £100 penalty even if you don’t owe the taxman any money. You have 30 days to appeal if … Continue reading

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Looking ahead – Capital Allowances

From April 2012 there will be a reduction in the amount of expenditure on plant and machinery which qualifies for 100% year one write-off (via AIA), from £100,000 to just £25,000. If you are about to invest in new capital … Continue reading

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Is Your Payroll Information ‘Clean’?

The Taxman is asking all employers to spring-clean their payroll data to prepare for RTI. What does RTI stand for? It stands for Real Time Information, and within the next 18 months it will become as familiar to you as … Continue reading

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