Short answer, yes it is… The State Pension is worth between £6,359.60 (the old version), and £8,296.60 (the new version), and many pensioners may receive additional payments based on additional contributions made in prior years. In both cases, this pension income is treated the same…
Month: April 2017
Utilising tax losses
We have listed below a few of the ways you can make best use of tax losses. Generally speaking, a tax loss arises when a claim for expenses and other allowances (for example capital allowances for equipment purchases) exceeds the income of the relevant trade.…
Tax Diary April/May 2017
1 April 2017 - Due date for Corporation Tax due for the year ended 30 June 2016. 19 April 2017 - PAYE and NIC deductions due for month ended 5 April 2017. (If you pay your tax electronically the due date is 22 April 2017)…
Dividend tax set-back
The final matter we want to showcase for this month is the proposed reduction in the dividend allowance from April 2018. At present, shareholders with dividend income below £5,000 will pay no Income Tax on their dividend income. From April 2018, Mr Hammond looks set…