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Tax on Saving Income

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The taxation of savings income can be complicated as there are various allowances and rates that come into play. However, most people can enjoy savings income tax-free. For these purposes, savings income means interest on savings – separate rules apply to the taxation of dividends. Personal allowance The first allowance which may be available to […]

Making Tax Digital for VAT

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Making Tax Digital (MTD) for VAT starts from 1 April 2019. VAT-registered businesses whose turnover is above the VAT registration threshold of £85,000 will be required to comply with MTD for VAT from the start of their first VAT accounting period to begin on or after 1 April 2019. If the business is VAT-registered but […]