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How gift aid donations can impact your taxes
- November 9, 2017
- Posted by: admin
- Category: Contractors, Tax, Uncategorized
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Donations made to UK registered charities and some amateur sports clubs attract tax relief if they are made under gift aid. As you are a higher rate taxpayer this tax relief will take two forms. Firstly, assuming you donated £2,000, the charities will be able to claim gift aid relief which will increase the donations
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Trivial Benefits for Limited Companies
- October 10, 2017
- Posted by: admin
- Category: Contractors, Expenses, Tax, Uncategorized
Trivial Benefits for Limited Companies
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Tax Code: What do the letters and numbers mean?
- September 18, 2017
- Posted by: admin
- Category: Contractors, Tax
What do the letters and numbers mean? Most tax codes have a series of numbers followed by a letter, which let your employer know the value of your personal allowance for the current tax year, and any special circumstances which will affect how much tax is deducted from your income. If you multiply the number
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Payments on Account: How does it impact the contractor in 2016/17
- April 10, 2017
- Posted by: admin
- Category: Business Growth, Contractors, Expenses, Finance & accounting, Tax
Payments on account are where the taxpayer pays 50% of the following years personal tax at the same time they settle their current year’s liability (in the case of the 16/17 tax year this payment will be due by 31 January 2018). There is also a second payment on account due by 31 July for