Personal tax


Because dealing with the Taxman and calculating your own tax can be a nightmare


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Letter
Letter to employees regarding trivial benefitsThe tax and NI exemption for trivial benefits is a great way to reward your employees with small gestures. You need to maintain certain records as a matter of best practice.Tax-free rewardsSince 6¬†April¬... Read more
UPDATED13 Jan 2021
Credits: 1
pdf
Flow Chart
Flow chart - pension contributions annual allowanceIf you are under 75 you're entitled to tax relief on pension contributions of up to £40,000 in a tax year. Flow chart Our Flow Chart - Pension Contributions Annual Allowance will help you work out ho... Read more
UPDATED15 Dec 2020
Credits: 1
pdf
Flow Chart
Flow chart - claiming overpayment reliefIf you discover a mistake in or an omission from your tax return or assessment, which has resulted in your tax bill being too high, and the deadline for amending it has passed, you may be able to claim overpaym... Read more
UPDATED15 Dec 2020
Credits: 1
pdf
Flow Chart
Flow chart - student loan repayments Whatever type of student loan you have you're required to make repayments when your earnings reach a certain level. You may have more than one type of student loan each with different repayment stating points and r... Read more
UPDATED15 Dec 2020
Credits: 1
pdf
Flow Chart
Flow chart - employee expenses paymentsAs an employee or director if you incur expenses relating to your job you might be entitled to claim a tax deduction for them. However, there are rules and procedures which HMRC applies rigorously.Flow chartThe ... Read more
UPDATED15 Dec 2020
Credits: 1
pdf
Flow Chart
Flow chart - high income child benefit chargeIf you or someone you live with is receiving child benefit and your or their income exceeds the limit set by the government, one of you will be required to pay extra tax. The tax charge can apply in other ... Read more
UPDATED15 Dec 2020
Credits: 1
pdf
Flow Chart
Flow chart - reclaiming additional stamp duty land tax If you own a residential property and purchase another, you must usually pay the stamp duty land tax (SDLT) additional charge (also called the higher rate or supplementary charge). If the new pro... Read more
UPDATED15 Dec 2020
Credits: 1
pdf
Flow Chart
Flow chart- inheritance tax - gifts during lifetimeIf you give money, investments or other assets away it can trigger an immediate inheritance tax (IHT) charge. However, there are many exemptions and exceptions. If none of them apply it still does no... Read more
UPDATED15 Dec 2020
Credits: 1
pdf
Flow Chart
Simplified business expensesIn 2013 deductions for simplified business expenses were introduced. The rules were soon modified to allow their wider use. However, the list of expenses is specific and limited to certain business types.Flow chartThe Flow... Read more
UPDATED15 Dec 2020
Credits: 1
pdf
Flow Chart
Flow chart - workplace pensions auto-enrolment All businesses, organisations or persons who employ the services of individuals must consider whether they are required to include them in a workplace pension. This involves assessing the auto-enrolment ... Read more
UPDATED15 Dec 2020
Credits: 1