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Two million couples still missing out on Marriage Allowance Recent government statistics indicate that out of four million eligible couples, around half are still not benefiting from the income tax Marriage Allowance (MA). The allowance was first introduced in April 2015, which means that a backdated claim made in 2017/18 could be worth up to £662. It's worth checking to…
Tax-free childcare now open to under 9s In April 2017 HMRC started rolling out tax-free childcare, a scheme designed to help working parents with the cost of childcare with up to £2,000 of support per child per year, or £4,000 for disabled children. The scheme is now open (from 15 January 2018) to parents whose youngest child is under 9,…
February key tax dates 2 - Last day for car change notifications in the quarter to 5 January - Use P46 Car 19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/2/2018 28 - First 5% penalty surcharge on any 2016/17 outstanding tax due on 31 January 2018 still unpaid Disclaimer
New tax bands announced in Scottish Budget In the Scottish Budget, which took place on 14 December 2017, Scotland's Financial Secretary, Derek Mackay, announced that two thirds of income taxpayers will pay less next year on their current income. However, new bands of income tax were also announced, which will see taxes rise for Scottish taxpayers in the middle income…
Consider a partnership Whilst forming a partnership can be an extremely flexible way for two or more people to own and run a business together, it is important to appreciate that under this type of trading vehicle, the partners themselves do not have individual protection. If one of the partners resigns, dies, or goes bankrupt, the partnership has to be…
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