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Current News - Find Out Whats Happening |
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03 December 2008
Tax credits - when do you qualify
You may be eligible for tax credits if you fit into the following criteria:
If you are responsible for at least one child or young person who normally lives with you, you may qualify for Child Tax Credit.
If you work, but earn low wages, you may qualify for Working Tax Credit.
In b...
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03 December 2008
Letting your own home
It has been some time since we were given tax breaks for owning our own homes - remember MIRAS? (Mortgage interest relief at source - tax relief at basic rate, up to certain limits, was deducted from the mortgage interest we paid).
As a consequence we have to fund both interest and capital...
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11 June 2008
Be reasonable or face the Revenue’s wrath
A financial expert is urging people to take extra care with their tax returns in future – or face a tough new system of penalties.
A spokesperson at local accountants Fisher Kau, says carelessness in preparing forms could soon prove very costly. This is because people will be automatically ...
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09 January 2008
Extracting profits from small companies – the issues
Increasing Corporation Tax Rates
The rate of corporation tax for small companies is to increase from 19% in 2006-2007 to 22% in 2009-2010. The impact of these increases will be to gradually narrow the difference between the extraction of profits as dividends or as a salary/bonus.
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09 January 2008
VAT – Flat Rate Scheme
Who can join the scheme?
It is only available to small businesses with VAT exclusive annual taxable turnover of up to £150,000 and VAT exclusive annual total turnover (i.e. including exempt and non-taxable income) up to £187,500.
How does the scheme work?
Instead of payin...
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