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Changes To Investment Income Tax 2016-17

We are pleased to share with you an important new factsheet which explains the changes which have been made from April 6th 2016 regarding interest on savings. To view or download the pdf factsheet just click on the link below: Changes To Investment Income Tax

Missed Self Assessment Deadline ?

Our client has been completing self-assessment tax returns for many years, however this year he was unable to provide the information in time to meet the deadline. Due to this, his return will be submitted after the 31st January deadline. This is our answer to his question of where he stands with regard to penalties.…Read More

Autumn Statement – Comments & Press Release

Trio Accountancy – Autumn Statement Commentary Find out all our reaction to the Autumn Statement and Spending Review announced by Chancellor George Osborne on November 25th. For property investors, landlords, small business owners and anyone interested in the new digital tax rules, it is a ‘must read’. As always, please get in touch if you…Read More

Summer Budget Blog – July 2015

It is hard to reconcile the Chancellor’s announcement that there will be no increase in tax rates, with the change he has announced to the taxation of dividends, as this change will inevitably result in an increase in the rate of tax payable on dividends. It seems to me that what the Revenue are trying…Read More

Starting a new business ? Free consultations

Thinking of starting a new business or in the early stages of deciding whether it might be better to become a sole trader or create a limited company?  Our experts at Trio are on hand to help.  Firstly with a simple new guide, which you can read by clicking here Starting In Business – factsheet Having…Read More

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 £900 a year better off and…Read More

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% Trust rate 45% 45% Starting rate limit (savings income)…Read More

Income tax allowances

2015-16 Change 2014-15 £ 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 allowances (born before…Read More

PAYE – Auto-enrolment in pensions

Statutory Changes for October 2012 – Workplace Pensions ReformFrom 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 new law is ‘switched on’ for…Read More

HMRC Targets Employees With Self-Employed Earnings

HMRC have launched a second incomes campaign which gives employees who have undisclosed income from self-employment the opportunity to bring their tax affairs up to date on preferential terms. A taxpayer who wishes to take advantage of this scheme should complete a notification form, and then file a disclosure form to disclose and pay the…Read More

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