Collecting debts through PAYE

The coding threshold allows taxpayers to have a tax underpayment of less than £3,000 collected via their tax code provided that they are in employment or are in receipt of a pension. The coding applies to certain debts such as … Continue reading

Filed under DBA's Blog, Tax Tips | Tagged , , , | Leave a comment

Special Budget blog 2014: Savings and investments

The chancellor announced changes to savings and investments which will benefit individuals who regularly save. The first of these changes is a major reform to the ISA system. A new ISA (NISA) is to be introduced from 1 July 2014 … Continue reading

Filed under DBA's Blog, Tax Tips | Tagged , , , | Leave a comment

Advisory fuel rates for company cars

New advisory fuel rates took effect from 1 March 2014. Fuel rates took effect from 1 March 2014. Fuel rates are reviewed four times a year with changes taking effect on 1 March, 1 June, 1 September and 1 December. … Continue reading

Filed under Company Matters, DBA's Blog | Tagged , , | Leave a comment

Special Budget blog 2014: Income tax rates and allowances

In the budget, the Chancellor announced that from April 2015, the basic personal allowance for taxpayers born after 5 April 1948 will rise to £10,500. At the same time the basic rate limit will be reduced to £31,785. Taxpayers’ personal … Continue reading

Filed under Company Matters, DBA's Blog, Staff Matters, Tax Tips | Tagged , , , , , | Leave a comment

PPI refunds – Have you declared the interest received?

Individuals who have been successful in reclaiming miss-sold Payment Protection Insurance (PPI) may be unaware that any interest received as part of their settlement should be being declared on their self-assessment tax return. The HMRC have commented that; ‘The interest … Continue reading

Filed under DBA's Blog, Tax Tips | Tagged , , , , , | Leave a comment

Selling your house – new potential capital gains issues!

Capital gains tax rules state that an individuals ‘sole or main residence’ is exempt from capital gains tax, if any personal residence e.g. a house, flat etc., was the individual’s ‘sole or main residence’ for only part of his or … Continue reading

Filed under DBA's Blog, Tax Tips | Tagged , , , | Leave a comment

Special Budget blog 2014: Increase in the Annual Investment Allowance

The chancellor pleased many businesses in April with his announcement that the temporary increase in the annual investment allowance (AIA) is to be extended for a further year to 31 December 2015. From the 1st April 2014 the maximum amount … Continue reading

Filed under Company Matters, DBA's Blog, Tax Tips | Tagged , , , , , , | Leave a comment

Employees can save twice as much in workplace schemes

The save as you earn (SAYE) scheme is a savings related scheme where employees of participating companies can save to buy shares at a discount. SAYE’s are approved by HMRC who allow employees to make contributions and buy shares at … Continue reading

Filed under DBA's Blog, Staff Matters, Tax Tips, Uncategorized | Tagged , , , | Leave a comment

Special Budget blog 2014: Options at retirement

One of the most significant changes in the 2014 Budget were the changes to pensions held in defined contribution schemes. The proposed changes, which are expected to come into effect from April 2015, will give savers the choice of whether … Continue reading

Filed under DBA's Blog, Tax Tips | Tagged , , , , | Leave a comment

Basic PAYE tools – 2014/15 update

The latest version of this basic PAYE tools software for the 2014/15 version is expected to be released on 3 April 2014. The 2014/15 version will be provided as an update to the existing version rather than as a separate … Continue reading

Filed under Company Matters, DBA's Blog, Staff Matters | Tagged , , , , | Leave a comment