Tax | White Collar Consultants Limited

Personal Tax and the Spring Budget

Personal Allowance increases to £11,500 from 2017, rising to £12,500 by the end of parliament. The 40% tax threshold was lifted to £45,000 and will increase to £50,000 by the end of the current parliament, as previously promised.

The tax-free Continue reading →

child care, Inheritance tax, ISA, self assessment, tax free allowance

Accounting, Help & Funding News, Tax

What the Spring 2017 Budget Means for Business and Employers

Corporation Tax to be reduced to 19% from 1 April 2017, with a further reduction to 17% by 2020. This would make it the lowest corporate tax rate in the G20.

The VAT registration threshold will increase from £83,000 to Continue reading →

corporation tax, HMRC, NIC, VAT

Accounting, Bookkeeping, Help & Funding News, Tax

What is needed to complete a self assessment tax return?

When meeting with new clients they always seem a little shocked to find the amount of information we require to complete their self assessment tax returns.

This is what we require from our clients to make the process as Continue reading →

HMRC, P11d, P60, SA100, self assessment, tax return

Tax

Budget 2016, what does it mean?

State of the economy

The UK growth rate has been revised down from 2.4% to 2.2% in 2015/16, 2.0% in 2016/17 and 2.2% in 2017/18, followed by 2.1% up to 2020.
Unemployment is at its lowest level since 1974, with Continue reading →

budget2016, capital gains tax, duty, insurance premium tax, ISA, sugar tax, tax, tax-free

Accounting, Tax

DEALING WITH A TAX INVESTIGATION

According to HMRC 5% of investigations are random, therefore you can never be sure that you have nothing to fear.
Worst case scenario is you get a letter from HMRC informing you of a “full investigation”. Chances are they will Continue reading →

audit, HMRC, tax, tax investigations

Tax

Dividend factsheet

From April 2016, Dividend Tax Credits will be replaced by the new £5000 tax-free Dividend Allowance.

The tax band rates on Dividends above £5,000 will be taxed as follows:

Tax Band	Rate	Threshold
Basic Rate Tax Band	7.50%	£32,000
Higher Continue reading →

bands, dividends, ISA, pension, tax

Tax

V.A.T. Definition: Very Arduous Tax

In general business owners are scared of VAT.

There are a number of us that are either registered when there is no need to be or are registered on the wrong scheme.

Below is my crib sheet for VAT and Continue reading →

annual, cash, global, market, rate, tax, VAT

Tax

Income Tax Rates 2015/16

income tax, Self assesment, tax, tax rates, tax-free

Tax

If you are self employed and pay Class 2 National Insurance then this may be of interest to you

Originally shared by +Small Business Accountancy

As of April 2015 HMRC are changing the way in which they collect Class 2 contributions. All future payments will be collected via Self Assessment along with any tax liability.

national insurance, self assessment, self employed, tax

Accounting, Bookkeeping, Payroll, Tax

Tax free personal allowance

As of the 6th April 2015 the personal tax free allowance will increase to £10,600. Which means your tax code should read 1060L from the 6th April 2015

1060L, allowance, free, increase, personal, tax

Tax