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Tax Free Savings

There is no one answer to the amount of savings income and, for 2017/18, the answer can range from £0 to £18,650, depending on personal circumstance. When looking at tax free savings, there are a number of elements to take into account: the personal allowance; the marriage allowance; the savings allowance; and the starting rate for savings. […]

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TAX INVESTIGATION

Prior to the introduction of self-assessment tax returns, just 1% of all returns were audited; with the introduction of self-assessment, this number will now be around 10%. It is highly likely that the number will be far higher if the HMRC is given more financial aid. What this means to the taxpayer, including anyone who […]

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Contractors Tax Issues – A How to Guide

Working as a contractor is a stressful job that requires excellent time-management and people skills. From very basic self-employed service contractors to complex business deployment including employing the right staff and scheduling their tasks to ensuring that the appropriate materials have been ordered and distributed to the correct place, it’s a juggling act that relies on […]