Cashing in your pension pot

Jun 29, 2015

From April 2015, persons aged 55 years or older, with defined contribution personal pension pots, can consider cashing in the value accumulated in their fund. Certainly, anyone considering this course…

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Business start-ups

Jun 26, 2015

If you are an old hand at setting up a new business most of the content of this article will be a timely reminder of the issues you need to cover in your project to-do list. For first timers, use…

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Scottish Rate of Income Tax

Jun 26, 2015

From April 2016, the Scottish Parliament has devolved powers to set the Scottish Rate of Income Tax (SRIT). Within the last few weeks it has been widely publicised that this may mean a higher rate…

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Summer Budget 2015

Jun 26, 2015

 On  Wednesday 8th July, George Osborne will present his first budget of the new parliament.

 He has indicated that there will be no hikes in the major taxes: Income Tax, National…

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Under and over payments of tax 2014-15

Jun 26, 2015

HMRC have started the process of sending formal statements to taxpayers who may have under or over paid Income Tax for 2014-15.

In a recent press release they said:

“We…

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Tax Diary July/August 2015

Jun 26, 2015

 1 July 2015 - Due date for Corporation Tax due for the year ended 30 September 2014.

 6 July 2015 - Complete and submit forms P11D return of benefits and expenses and P11D (b) return of…

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HMRC sets out its position on charging penalties

Jun 17, 2015

Its official, HMRC does not want to charge penalties!

HMRC have made the following announcement on their approach to the £100 late filing penalty for people sending in tax returns late:

“We…

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North of England set to become dormitory for wealthy Scots

Jun 15, 2015

The north of England may become a Scottish executives’ area of choice to live if the Scottish Parliament sets the Scottish income tax at higher rates than the rest of the UK.

In effect the…

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How to renew tax credits

Jun 11, 2015

 You usually need to renew your tax credits once a year. You should receive your renewal pack by 30 June. If you haven’t got your pack, call the Tax Credit Helpline.

You can’t renew your…

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