Using your own car for business purposes
Employees who use their own car at work for business purposes can, under certain circumstances, be paid a tax-free allowance by their employers. This includes the use of their own van, motorcycle or
Category: Income Tax
Marginal rate of income tax
For high earning taxpayers the personal allowance is gradually reduced by £1 for every £2 of income over £100,000 irrespective of age. This creates an effective marginal rate of tax of around 60% for
Gift Aid donations
The Gift Aid scheme is available to all UK taxpayers. The charity or Community Amateur Sports Clubs (CASC) concerned can take a taxpayer’s donation and, provided all the qualifying conditions are met,
Using your own car for work
Under certain circumstances, an employee can be paid a tax-free allowance by their employers when using their own car, van, motorcycle or bike for work purposes. It is important to note that this
Reminder to claim the marriage allowance
The marriage allowance came into force on 6 April 2015 and allows lower earning couples to share part of their personal tax-free allowance. The marriage allowance is available to married couples and
Replacement Domestic Item relief
The wear and tear allowance that allowed landlords to reduce the tax they paid on furnished property lets was withdrawn at the end of the 2015-16 tax year. The 10% deduction was available to landlords
Late filing of Self Assessment tax returns
Taxpayers that have not yet filed their 2015-16 Self Assessment returns will have already been charged an automatic £100 penalty for late submission. The penalty applied from 1 February 2017, even if
Furnished holiday lettings
The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for specific tax purposes. Individuals, partnerships, trustees and
Personal tax changes for 2017-18
A number of changes to personal taxation have come into effect with the start of the 2017-18 tax year. These changes include the following: National Living Wage and the National Minimum Wage
Mortgage relief restriction for landlords
The tax relief available to residential landlords has been reduced from the start of the 2017-18 tax year. The new rules mean that tax relief on mortgage costs will be gradually restricted to the