Corporation tax Financial year to 31/03/2021 31/03/2020 Rate 19% 19% Stamp taxes Shares and marketable securities 0.5%³ Transfers of land and buildings₄ Residential (on band...
Tax Data Guide 2020/21 (Income tax allowances,...
- Business, Income Tax, Inheritance Tax, Tax,
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Income tax allowances Rates 2020/21 2019/20 Personal allowance £12,500 £12,500 Income limit £100,000 £100,000 Transferable marriage allowance £1,250 £1,250 Married couple’s allowance (relief at 10%)...
HMRC Important filing deadlines
- Capital Gain, Income Tax, Small Business,
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Important Deadlines for individuals, self-employed and CIS subcontractors Individuals, sole traders and CIS subcontractors Filing deadline Second payment on account for 2019/20 tax year 31...
The Marriage allowance
- Contractors, Income Tax,
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The marriage allowance was introduced to take effect from the tax year 2015/16. The marriage allowance allows certain individuals who are married or in a...
National Minimum Wage and National Living Wage...
- Contractors, Freelancers, Income Tax,
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The hourly rate for the minimum wages depends on your age and whether you’re an apprentice. The National Minimum Wage (NMW) is the minimum pay...
Lifetime ISAs available from 6 April 2017
- Income Tax,
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The lifetime ISA will be available from April 2017 to help young people save for long term, particularly when buying a first home. You can...
National Insurance Contribution Rates for the tax...
- Capital Gain, Income Tax, Small Business,
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National Insurance Contribution Thresholds 2017/18 £ per week 2016/17 £ per week Weekly lower earnings limit (LEL) 113 112 Weekly primary threshold (PT) 157 155...
New Rules for contractors in public sectors...
- Contractors, Income Tax,
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The government announced at Budget 2016 that it will reform the intermediaries (often known as IR35) legislation for public sector engagements to ensure that individuals...
Should A Director Submit A Tax Return?
- Capital Gain, Contractors, Income Tax,
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It is mandatory for a company director to submit a tax return with HMRC if a return has been issued. But what about if a...
How To Calculate Rental Property Profits
- Capital Gain, Income Tax,
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Rental profits is calculated on an accrual basis. The accrual basis involves taking rents receivable rather than rent received and allowable expenses payable rather than...
Residential Property letting – Restriction of Finance...
- Income Tax,
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At current, all landlords of residential property in or outside the UK, are permitted to claim relief for finance costs (e.g. mortgage interest) on their...
