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....Almost without exception these places have no taxes on wealth, so inheritance taxes and capital gains taxes are absent. Some tax havens, such as Singapore, Jersey and Guernsey, have income taxes, even if top rates rarely exceed 20%. ... [Read full article on Guardian ]
Wednesday 22nd of March 2017 06:30:42 PM
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....Discussion of a robot tax should consider what alternative we have to deal with rising inequality. It would be natural to consider a more progressive income tax and a “basic income”. ... [Read full article on Guardian ]
Wednesday 22nd of March 2017 11:18:12 AM
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....     Corporate bond funds change to paying gross interest. The Personal Saving Allowance (PSA) allows basic rate taxpayers to earn up to £1,000 in savings income tax-free, while higher rate taxpayers can earn up to £500. ... [Read full article on Daily Express ]
Tuesday 21st of March 2017 01:47:00 PM
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Latest Finance News related to Income Tax

Why becoming a tax haven would be bad news for Britain image
Source : Guardian [Read Article] Wednesday 22nd of March 2017 06:30:42 PM
....Almost without exception these places have no taxes on wealth, so inheritance taxes and capital gains taxes are absent. Some tax havens, such as Singapore, Jersey and Guernsey, have income taxes, even if top rates rarely exceed 20%. ...
Why robots should be taxed if they take people's jobs | Robert Shiller image
Source : Guardian [Read Article] Wednesday 22nd of March 2017 11:18:12 AM
....Discussion of a robot tax should consider what alternative we have to deal with rising inequality. It would be natural to consider a more progressive income tax and a “basic income”. ...
Eight tax changes savers should watch out for from April 2017 image
Source : Daily Express [Read Article] Tuesday 21st of March 2017 01:47:00 PM
....     Corporate bond funds change to paying gross interest. The Personal Saving Allowance (PSA) allows basic rate taxpayers to earn up to £1,000 in savings income tax-free, while higher rate taxpayers can earn up to £500. ...
U-turn over Budget plan to increase National Insurance image
Source : BBC [Read Article] Wednesday 15th of March 2017 12:30:48 PM
....Labour's Jeremy Corbyn said the U-turn showed a government "in chaos". Mr Hammond had faced a backlash by Conservative backbenchers last week, who accused him of breaking a general election manifesto commitment not to put up National Insurance, income tax or VAT. ...
Philip Hammond defends scrapping national insurance rise for the self-employed image
....Both the Treasury and No 10 insisted the decision, which leaves a £2bn hole in the chancellor’s budget plans over the next five years, had been taken jointly by May and Hammond. But at Westminster on Wednesday night some MPs insisted May had ordered her chancellor to drop the plans, fearing that breaking the party’s manifesto pledge to make “no increases in VAT, national insurance contributions or income tax”, would do too much damage to the Conservatives’ reputation. ...
Donald Trump's 2005 tax return leak reveals $38m bill image
Source : BBC [Read Article] Wednesday 15th of March 2017 02:38:18 AM
....The bill comprises $5. 3m in federal income tax and an extra $31m in what is called alternative minimum tax (AMT). ...
Pension tax warning: Savers in 'last chance' to use extra relief allowance before April 5 image
....People approaching retirement typically try to add as much as possible to nest eggs to benefit from tax relief. The annual contribution allowance has been reduced in recent years and is now capped at between £10,000 and £40,000, dependent upon income tax rates. ...
Bogus self-employment exploits workers and scams the taxman | Paul Mason image
.... But it would still leave an expanded pool of independent workers, low-paid and effectively self-insuring against sickness and maternity leave. In the long run, although Hammond’s tax grab is a bad idea, they should contribute more via NICs, get a form of social insurance in return, and fewer income tax breaks. ...
Savers and Pensions: How the Chancellor's spring BUDGET plans can affect you  image
Source : Daily Express [Read Article] Sunday 12th of March 2017 03:23:00 PM
....”. Also from the start of the new tax year, the personal allowance for England, Scotland, Wales and Northern Ireland climbs to £11,500, above which income tax is 20 per cent. ...
We will all need a stiff drink to swallow Hammond’s austerity image
Source : Guardian [Read Article] Sunday 12th of March 2017 07:00:17 AM
.... Underlying it all is the Conservative party’s obsession with shrinking the size of the state and minimising the so called “tax burden” – a “burden” which helps to ensure we have decent hospitals, schools and infrastructure generally. There can be little doubt that, on his own terms, the decision of Chancellor Lawson in the 1988 budget to bring the top rate of income tax down from 60% to 40%, and the basic rate from 27% to 25%, was what is known in the trade as a “game changer”. ...
Budget 2017: Self-employed 'tax raid' a 'rookie error' image
Source : BBC [Read Article] Saturday 11th of March 2017 09:22:56 AM
....Chancellor Philip Hammond's "tax raid" on the self-employed in the Budget has been described as a "rookie error" by former Tory chancellor Lord Lamont. He told the BBC the Conservative election pledge not to increase National Insurance, income tax and VAT was a "mistake". ...
MPs not appeased by May's decision to review self-employed tax hike image
Source : Guardian [Read Article] Friday 10th of March 2017 06:48:53 PM
....David Cameron was also dragged into the row, after a video clip from Thursday’s Iraq and Afghanistan memorial unveiling appeared to show him saying to the defence secretary, Michael Fallon: “Breaking a manifesto promise, how stupid can you get?”. But some MPs blamed Cameron and his chancellor, George Osborne, for making the sweeping pledge not to raise national insurance and income tax, come what may, as they approached the 2015 general election. ...
It’s not true that the top 1% pay 27% of tax | Letters image
Source : Guardian [Read Article] Friday 10th of March 2017 06:14:35 PM
.... No – this is wrong. The top 1% of earners pay 27% of income tax, but income tax raises just 27% of the UK’s total tax revenue. ...
Landlord tax: How to beat new buy-to-let charges coming in NEXT month  image
Source : Daily Express [Read Article] Friday 10th of March 2017 04:44:00 PM
. Buy-to-let returns are set to be eroded as mortgage interest tax relief is reduced to the basic rate of income tax over the next four years. ...
Trump faces formidable institutional obstacles – so what can he do? | Barry Eichengreen image
.... He has quickly discovered, like previous US presidents, that America’s political system is designed to prevent rapid, large-scale change, by interposing formidable institutional obstacles, from the Congress and career civil servants to state governments and the courts. Start with reform of personal income tax. ...
May defends 'fair' National Insurance rise amid criticism image
Source : BBC [Read Article] Thursday 9th of March 2017 08:28:31 PM
...." . The Conservatives' last general election manifesto explicitly ruled out rises in National Insurance, VAT and income tax during the lifetime of the current Parliament. ...
May and Hammond face serious Tory revolt over tax on self-employed image
Source : Guardian [Read Article] Thursday 9th of March 2017 04:59:51 PM
....One of these who is understood to have expressed private worries about the proposal is a cabinet minister. The concerns centre both on the perception that such a move unfairly targets the self-employed and entrepreneurial, and also that the 2015 Conservative manifesto specifically ruled out rises to income tax, VAT or NICs before 2020. ...
The shameless Tories have betrayed the self-employed – and themselves | John Harris image
.... And this one does, in spades. First of all, as proved by Hammond’s painful media rounds the morning after the budget, no amount of dissembling can disguise the fact that the NI hike is a brazen breaking of a 2015 Tory manifesto – “We can commit to no increases in VAT, income tax or national insurance” – which blurred out into no end of rhetoric about how the mere idea of pushing up national insurance was the stuff of economic calamity. ...
Institute for Fiscal Studies backs National Insurance increase image
Source : BBC [Read Article] Thursday 9th of March 2017 01:00:13 PM
....He said it was never sensible to pledge no change to taxes: "These were silly pledges. To commit yourself to not raising the three main taxes - income tax, NI and VAT - ties your hands to an absurd extent. ...
Budget 2017: manifesto row clouds chancellor's attempt at low-key package image
....The chancellor’s attempt at a low-key package threatened to be overshadowed by a row over whether the plan to bring NICs for the employed and self-employed into line would both stifle enterprise and break a commitment made by David Cameron in 2015. The Conservatives vowed there would be no increases in income tax, VAT or NICs for the duration of the 2015-2020 parliament and during the last election campaign senior Tories accused then Labour leader Ed Miliband and his shadow chancellor, Ed Balls, of plotting to raise NICs, “hitting hard-working taxpayers and costing jobs”. ...
Few will spot the difference in national insurance – at first | Patrick Collinson image
....But few expect him to tackle another anomaly in our tax system that grows worse year by year. Successive chancellors love to say how many millions of people they have lifted out of income tax, with Hammond reiterating that the threshold will rise to £12,500 in this parliament. ...
What the 2017 budget means for you image
Source : Guardian [Read Article] Wednesday 8th of March 2017 05:18:09 PM
.... Income £11k. 2016-17 The tax-free threshold was £11,000, meaning he paid no income tax as his earnings were within the current personal tax allowance. ...
Philip Hammond breaks manifesto pledge with budget tax grab image
Source : Guardian [Read Article] Wednesday 8th of March 2017 04:05:32 PM
....A Labour spokesman condemned what he called a “sole traders tax” – though the Treasury pointed out that the changes would only hit those whose profits exceeded £8,000, and many of those were due to benefit from a separate change due to take effect in April, which will see class two NICs, also paid by the self-employed, abolished. The Conservatives’ 2015 manifesto promised four times that the party would “not increase the rates of VAT, income tax or national insurance in the next parliament”. ...
Budget: Does NI rate rise break a pledge? image
Source : BBC [Read Article] Wednesday 8th of March 2017 03:04:52 PM
....Chancellor Philip Hammond has announced increases in the rate of National Insurance paid by self-employed workers. But in the Conservative Party's manifesto for the 2015 general election, it promised: "We will not raise VAT, National Insurance contributions or income tax". ...
Self-employed hit by national insurance hike in budget image
Source : Guardian [Read Article] Wednesday 8th of March 2017 02:24:49 PM
....”. However, the increase has triggered criticisms that the Conservatives are reneging on a 2015 manifesto pledge that committed the government “to no increases in VAT, income tax or national insurance” – while the reception from the business community was less than positive. ...
Budget 2017: Blow for pensioners as tax-free dividend allowance SLASHED image
Source : Daily Express [Read Article] Wednesday 8th of March 2017 01:44:00 PM
.... . The reduction in the allowance will increase the income tax payable on dividends for basic, higher and additional rate tax payers by £225, £975 and £1,143 respectively, according to experts. ...
Key points of the budget 2017 – at a glance image
Source : Guardian [Read Article] Wednesday 8th of March 2017 12:41:30 PM
....As expected, £11,500 for basic rate taxpayers. RM: This is a continuation of the Conservative-Liberal Democrat coalition government’s trend of raising the personal allowance to reduce income tax paid for all but the very highest earners. ...
Isa savers frozen out as rates hit a new low image
Source : Daily Express [Read Article] Wednesday 8th of March 2017 08:13:00 AM
....” . Cash Isas have been hit by the new personal savings allowance that lets basic rate taxpayers earn £1,000 in savings interest outside an Isa before paying income tax. ...
Budget will hold no big surprises on spending or tax, chancellor says image
Source : Guardian [Read Article] Wednesday 8th of March 2017 06:33:22 AM
.... Treasury sources indicate that the chancellor will adjust the complicated business-rate capping regime to make life easier for the worst-affected, but will refuse calls for a complete rethink. Income taxThe government wants to raise the income tax personal allowance to £12,500 and the higher-rate threshold to £50,000 by the end of this parliament. ...
Budget 2017: £2bn for social care and tax rise for self-employed image
Reality Check image
Source : BBC [Read Article] Tuesday 7th of March 2017 01:31:56 AM
.... . There have been gradual falls in revenue from income tax, for example, as the amount people have to be earning to pay it has been increasing. ...
Hammond urged to tackle 'catastrophic' effect of rising inflation image
Source : Guardian [Read Article] Monday 6th of March 2017 01:13:37 PM
. Philip Hammond is being urged to scrap cuts to inheritance, corporation and income tax in order to plough money into benefits, as figures reveal the extent to which living standards are going to be squeezed by rising inflation. ...
Budget 2017: The misplaced confidence of the British consumer image
....His priority has been to cut spending even if it harms other priorities, such as supporting low-income working families. Budget measures have helped such families pay less income tax. ...
Greece desperate for growth strategy as public mood darkens image
Source : Guardian [Read Article] Sunday 5th of March 2017 04:54:18 PM
.... Last week, the Cologne Institute for Economic Research said poverty in thrice-bailed out Greece had jumped 40% between 2008 and 2015, by far the biggest leap of any European country. Tsipras has been told he will have to enforce labour market reforms and further pension and income tax cuts if Greece is to realistically achieve a primary surplus of 3. ...
Budget 2017: Hammond to tell us the Brexit vote could have been worse image
....At that point it becomes much harder for Hammond and his fellow ministers to hide behind the happy headlines of faster growth and lower borrowing. That is because the kind of distributional analysis by the IFS and other thinktanks lays bare how a change such as raising an income tax threshold can mean a windfall for some but make no difference to others. ...
Buy-to-let landlords face huge tax increase from new law image
Source : Daily Express [Read Article] Sunday 5th of March 2017 12:01:00 AM
....Now buy-to-let could be blown away for good, hurting thousands of older savers who were planning to buy a rental property to bolster their pension income. Currently, landlords pay income tax on rental earnings after mortgage interest payments (and other costs) have been deducted. ...
Seven things we already know will happen in the 2017 spring budget image
Source : Guardian [Read Article] Saturday 4th of March 2017 06:59:08 AM
....Few expect a dramatic budget on Wednesday, with Philip Hammond likely to keep cash in reserve to resuscitate the economy if it tanks post-Brexit. But because chancellors have a habit of pre-announcing policies long before they happen, we already know the major changes in income tax, national insurance, tax credits and welfare benefits that come into effect on 6 April. ...
Low key Budget?  image
Source : BBC [Read Article] Saturday 4th of March 2017 01:17:34 AM
.... Others were outlined by Mr Hammond in November's Autumn Statement and will also come into force in the spring. A number will lead to a notable change in the finances of those of working age - particularly a shift in the income tax threshold and the benefit freeze - while others target particular groups of people such as landlords. ...
London loses out in business rates revamp image
Source : BBC [Read Article] Saturday 4th of March 2017 12:07:28 AM
.... . In the 2004-5 tax year London's taxes - including income tax, corporation tax and stamp duty - accounted for 25% of Britain's overall tax revenue. ...
UK Tax changes: What you need to know about child care, income tax and non-doms image
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New Lifetime ISA launched in April: Should you use it to boost retirement savings?  image
.... Savers tendency to opt for cash in ISAs over investments, could also mean diminished returns over the long term, compared to pensions. However, a benefit of the lifetime ISA is that all savings can be taken tax-free compared to pensions where only 25 per cent can be taken before income tax must be paid. ...
Business group calls for change to schemes giving tax breaks to 'select few' image
Source : Daily Express [Read Article] Thursday 2nd of March 2017 12:01:00 AM
.... . The organisation says the schemes allow executives to buy heavily discounted shares without having to pay income tax or national insurance. ...
Universal credit cuts hit families with children hardest, study finds image
Source : Guardian [Read Article] Wednesday 1st of March 2017 10:00:46 AM
.... “Starting work is the best way for people to improve their lives,” he said, “and this report mistakenly assumes that people on benefits will never progress in work. “The number of children living in working households is at a record high and by increasing the national living wage and taking millions of people out of paying any income tax, we are ensuring it always pays to be in work. ...
State pension age will be higher than life expectancy if 'triple lock' not axed, say MPs image
....8 per cent of GDP a year, according to research commissioned by the committee. That would be a real terms reduction £15billion at today's prices, the equivalent to 4p on the basic rate of income tax. ...
State pension age 'could rise above lifespan' in poorer areas, say MPs image
....8% of GDP (Gross Domestic Product) a year. That would be a real terms reduction of £15bn at today's prices, the equivalent to 4p on the basic rate of income tax, it said. ...
Trump's Treasury Secretary targets tax reform 'by August' image
Source : BBC [Read Article] Thursday 23rd of February 2017 05:37:58 PM
....President Trump has promised to announce a "phenomenal" plan to reform the US tax system by early March. "We are committed to pass tax reform, it will be very significant, it's going to be focused on middle income tax cuts, simplification and making the business tax competitive with the rest of the world," Mr Mnuchin told CNBC. ...
German budget surplus highest since 1990 image
Source : BBC [Read Article] Thursday 23rd of February 2017 02:29:14 PM
.... . The office said the main factors improving revenues were the large increase in income tax and property tax payments as well as the "good employment situation", which led to a "considerable growth" in social contributions. ...
Greek debt: will EU and IMF finally offer light at the end of the tunnel? image
Source : Guardian [Read Article] Wednesday 22nd of February 2017 07:00:27 AM
.... One of the IMF’s key demands is an overhaul of the Greek tax system to ensure more middle-class professionals pay their dues. More than 50% of Greek wage earners do not pay income tax, compared with 8% in the rest of the eurozone. ...
Why the Bank of England won’t raise interest rates any time soon image
Source : Guardian [Read Article] Saturday 18th of February 2017 05:00:07 PM
....George Osborne’s reforms allowed people aged 55 or older to empty their pensions, turn long-term savings into cash and splash it about like champagne-spraying Formula One drivers. Around £9bn has been extracted and spent in this way, giving the economy a boost akin to a 1p cut in the basic rate of income tax. ...
Will we pay higher stamp duty on a buy-to-let property? image
Source : Guardian [Read Article] Thursday 16th of February 2017 11:10:19 AM
.... On a property costing £220,000, which is not replacing your main residence, you will face a stamp duty bill of £8,500, which is £6,600 more than the tax at the standard rate. You will also have to pay income tax at your highest rate on your share of the rental income, plus capital gains tax (CGT) if you sell the property for more than you paid for it, and possibly inheritance tax (IHT) because the property will form part of your estate on your death. ...
The baby boomers have enjoyed the good times – now a tax hike is due | Phillip Inman image
....Perhaps the answer lies in an extension of national insurance beyond retirement , a care tax, or more transparently a separate tax regime for those who become eligible for the state pension. In short, pensioner income tax bands. ...
What is an ISA? How to save money with an ISA? Advice and tips image
Source : Daily Express [Read Article] Thursday 9th of February 2017 05:00:00 PM
.... . “With a SIPP, contributions qualify for income tax relief of up to 45%, which means a £10,000 investment could cost as little as £5,500. ...
Plan ahead to ease burden of death tax image
Source : Daily Express [Read Article] Wednesday 8th of February 2017 12:01:00 AM
....” . Unused pension can be passed on free of IHT, although beneficiaries may pay income tax on it if you die after age 75. ...
UK tax burden will soar to highest level for 30 years, warns IFS image
Source : Guardian [Read Article] Tuesday 7th of February 2017 10:00:11 AM
....Hammond said in the autumn statement last year that he was able to find funds to bolster public investment spending back above pre-crisis levels, with much of the extra cash to be spent on transport infrastructure. The chancellor also said the government still planned to pay for large giveaways in the form of a higher income tax personal allowance at the basic and higher rate. ...
'The UK is a tax haven' – Bermuda attacks plan to end financial secrecy image
....From April 2017, however, non-doms will lose some of their advantages and foreign nationals will no longer be able to enjoy tax breaks indefinitely in the UK. Those resident in the UK for 15 out of the previous 20 years will be liable for inheritance, capital gains and income tax on their worldwide assets. ...
Alarm bells ring over raids on pension pots image
Source : Daily Express [Read Article] Wednesday 1st of February 2017 12:01:00 AM
.... . Patrick Connolly, certified financial planner at Chase de Vere, said while you can take 25 per cent of your pension free of tax, the rest is liable for income tax. ...
UK faces return to inequality of Thatcher years, says report image
Source : Guardian [Read Article] Tuesday 31st of January 2017 11:26:31 PM
....A spokesperson for the Treasury said: “Living standards reached their highest ever level in 2015, and are forecast to be higher still by the end of the parliament. “Millions of people are taking home more of what they earn thanks to the government’s actions to reduce income tax bills and introduce the national living wage. ...
Tax return DEADLINE: Millions urged to act TODAY to avoid £100 fine  image
Source : Daily Express [Read Article] Friday 27th of January 2017 04:14:00 PM
....uk. "There is lots of free advice available to help guide people through the process, including a free income tax calculator from consumer campaign group Which? that will help show how much you owe. ...
UK's super rich appear to get special deal from HMRC, says watchdog image
Source : Guardian [Read Article] Friday 27th of January 2017 12:01:11 AM
....5bn in revenues. But it was unable to explain why the income tax they paid fell by 20% – from £4. ...
The new robot revolution will take the boss's job, not the gardener's image
Source : Guardian [Read Article] Sunday 22nd of January 2017 01:38:08 PM
.... But the last big epoch of technological change was accompanied by political change that ensured those making the cars, the washing machines and the TV sets could also buy them. Full employment policies, capital controls, progressive income tax and strong trade unions ensured this was the case. ...
The Trump effect has rallied US markets – but it's based on illusion | Robert Shiller image
.... Tax cuts are clearly on his agenda, and the stimulus could lead to higher asset prices. Lower corporate taxes are naturally supposed to lead to higher share prices, while cuts in personal income tax might lead to higher home prices (though possibly offset by other changes in the tax system). ...
Middle classes in crisis, IMF's Christine Lagarde tells Davos 2017 image
Source : Guardian [Read Article] Wednesday 18th of January 2017 11:51:21 AM
....”. Addressing his audience directly, Biden said the top 1% was not “pulling its weight” and urged that income tax be made more progressive. ...
The new retirement: how an ageing population is transforming Britain image
Source : Guardian [Read Article] Monday 16th of January 2017 08:07:13 AM
.... According to the report, the tax burden associated with an ageing society and higher dependency ratio – the ratio of non-workers to workers – will riseto £15bn a year by 2060. That is equivalent to a 4p income tax rise for the working age population. ...
Norway’s $885bn-nil advantage in Britain’s sea of social troubles image
Source : Guardian [Read Article] Sunday 15th of January 2017 12:51:15 PM
....Penrose says the way to finance a sovereign wealth fund is through a national debt charge. This would be carved out of income tax and pay for the interest on the national debt. ...
Corbyn’s wage cap plan labelled unworkable but keeps pay on agenda image
Source : Guardian [Read Article] Tuesday 10th of January 2017 08:05:41 PM
.... Leon Kamhi, head of responsibility at fund managers Hermes, said remuneration committees at individual companies should set out a maximum possible pay for their chief executives. Mark Littlewood, director general at the Institute of Economic Affairs, a free market thinktank, said Corbyn’s ideas had moved from “misguided to simply muddled” and branded the idea for a maximum wage cap to tackle inequality as “dangerous and, for all intents and purposes, a 100% income tax rate”. ...
UK inequality narrows but many working people are worse off image
Source : Guardian [Read Article] Tuesday 10th of January 2017 04:16:03 PM
....The figures, which show a fall in income inequality to levels last seen in 1986, were welcomed by Philip Hammond, who said measures to support lower-income groups were having a positive effect on income equality. The chancellor said a rise in the income tax threshold to £11,000 had saved many families on low incomes as much as £1,000 in tax since 2010. ...
The social divide image
Source : BBC [Read Article] Tuesday 10th of January 2017 03:09:34 PM
....It is using the Gini Coefficient, which is a measure of inequality - in this case, a coefficient of zero would mean that all households had the same income while 100 would mean that one household had all the income. These figures are for disposable income, which is what you get after you've added benefits and subtracted direct taxes such as income tax and council tax. ...
FTSE 100 closes at new high in longest-ever winning streak image
Source : Guardian [Read Article] Tuesday 10th of January 2017 12:19:08 PM
....The FTSE 100’s record winning streak came against a very different background to the May 1997 gains. Then the market was boosted by Blair’s attempts to distance himself from previous Labour administrations and the trade unions, his move to abandon nationalisation and income tax rises, and the decision to give the Bank of England independence to set interest rates. ...
Save on tax: 10 ways to - legally - cut what you pay to HMRC  image
Source : Daily Express [Read Article] Sunday 8th of January 2017 04:33:00 PM
...."1. Use your partner's income tax allowance The personal allowance increased to £11,000 during this tax year and will rise again to £11,500 in April 2017. ...
Celebrity deaths: Stars highlight the inheritance tax risk image
Source : Daily Express [Read Article] Wednesday 4th of January 2017 12:01:00 AM
....You can also use your company or personal pension to reduce the bill. She adds: “If you die after 75 your pension can be passed on free of IHT, although beneficiaries may pay income tax on the money. ...
Happy new year? 2017 rings in more commuter misery and higher bills image
Source : Guardian [Read Article] Monday 2nd of January 2017 06:59:18 AM
....These changes, which will see mortgage interest deductions slashed from 100% to zero, will be phased in between this coming April and April 2020. Instead, when income tax on a landlord’s profits from their property, and any other income sources, are totted up they will be granted a “tax credit” worth 20% of the mortgage interest to offset against income tax, whatever rate they pay. ...
New year resolutions to help you handle your money in 2017 image
Source : Daily Express [Read Article] Sunday 1st of January 2017 05:41:00 PM
....Cutting your tax bill is one resolution everyone can get behind. Peter Banks, head of investment and tax planning at Drewberry Wealth, says the best way is to make full use of your various tax allowances: “You can save up to £20,000 in an Isa from April 6, with your returns free of income tax and capital gains tax. ...
Deadline: one month left to file your tax return image
Source : Guardian [Read Article] Saturday 31st of December 2016 07:00:21 AM
....Do I still need to declare my savings income? This year the government introduced the personal savings allowance, which means the vast majority of people now don’t have to pay tax on their savings income. As of 6 April 2016, if you are a basic-rate taxpayer you can earn up to £1,000 in savings income tax-free. ...

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