Archive | March, 2015

Budget 2015 Update

WOW!  What a Budget Day The pre-Election Budget 2015 was always bound to be an exciting one, so we thought you might appreciate some of the top news items from The Independent: TAX * The income tax personal allowance is to rise to £10,800 next year and £11,000 the year after, making typical working taxpayer […]

Continue Reading

Bands of Taxable Income & Tax Rates

Bands of taxable income and corresponding tax rates   2014-15 2015-16 Per cent of income / £ a year year Basic rate 20% 20% Higher rate 40% 40% Additional rate 45% 45% Starting rate for savings income (*) 10% 0% Dividend ordinary rate 10% 10% Dividend upper rate 32.5% 32.5% Dividend additional rate 37.5% 37.5% […]

Continue Reading

Check Your Income Tax Allowances

Income tax allowances 2014-15 2015-16 Change £ a year Personal Allowance those born after 5 April 1948 10,000 10,600 600 those born between 6 April 1938 and 5 April 1948 10,500 10,600 100 those born before 6 April 1938 10,660 10,660 – Income limit for personal allowance (*1) 100,000 100,000 – Income limit for personal […]

Continue Reading

Workplace Pensions Reform

PAYE – Auto-enrolment in pensions Statutory Changes for October 2012 – Workplace Pensions Reform From 1 October 2012, changes to the pensions law (the Workplace Pensions Reform) started to affect employers. The changes mean that employers now have to enrol their employees into a pension scheme and pay into that scheme. The date when the […]

Continue Reading