Tax Calender

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Sunday 3 – Deadline for submitting P46(car) for employees whose car/fuel benefits changed during the quarter to 5 April 2009 Tuesday 19 –  Deadline for employers’ year end PAYE returns (P35, etc) to be submitted for 2008/09. Tuesday 19 –  PAYE and … Read More

Capital Allowances Rates

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Plant and machinery – Annual Investment Allowance (AIA) The AIA applies to expenditure incurred on or after 6 April 2008 (1 April 2008 for companies). The AIA gives a 100% write-off on most types of plant and machinery costs, including … Read More

HMRC Powers

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Tax Payments, Repayments and Debts Three separate changes to the current law will be introduced in Finance Bill 2009 to: • Introduce voluntary managed payment plans (MPPs). These will allow taxpayers to spread their income tax or corporation tax payments … Read More

Business Income Manual

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http://www.hmrc.gov.uk/manuals/bimmanual/index.htm Comment: A bible for those of you who wish to understand HM Revenue & Customs thinking on all matters regarding business tax and the law as it stands.  Revenue & Customs officers must, too,  be held by its various interpretations … Read More

Personal Tax Rates

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Tax Rates As previously announced the government proposes significant changes to the system of personal allowances and tax rates. These changes which were announced last year mainly impact on those with higher levels of income. Significant changes have now been … Read More

Tax Rates & Taxable Bands

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Income Tax Allowances Table Income Tax Allowances 2008-09 2009-10 2010-11 Personal Allowance(basic) £6,035 £6,475 £6,475 Personal allowance reduced by 50% £100,000 Personal Allowance for people aged 65-74 (1) £9,030 £9,490 £9,490 Personal Allowance for people aged 75 and over (1) … Read More