Personal Allowances Articles

Tax Changes 2015 - 2016
marketing | 7 April 2015
/ / /

Happy and Tax aren’t often seen in the same sentence as each other but a New Tax Year is normally a happy event with increases to personal allowance bands meaning contractors can normally see a bit more in their take home pay each week.

editor | 6 December 2012
/ /

The Chancellor in his Autumn Statement that was delivered yesterday proposed the following tax changes that will affect contractors working through an umbrella company.

As with most budgets there is good and bad news! Here we look at the changes that are most likely to effect people contracting in the UK.

Married Couples Tax Allowances
editor | 23 February 2015
/

Good news for married couples and qualifying Civil Partnerships is that from 6th April 2015 they may be able to claim additional tax relief in respect of their partners unused tax allowance.

In todays budget although IR35 didn't get scrapped there was one small bit of good news for contractors who currently get reimbursed for travel in their own car in carrying out assignments.

Instead of being able to be reimbursed tax free at 40p per mile this rate has now increased to 45p per mile (for the first 10,000 miles in the tax year).

This change comes into effect from 6th April 2011.

No huge shocks with duty increases on high value home purchases and the usual culprits: beer, tobacco and petrol!

Income Tax and Personal Allowances. No change to rates previously announced. The changes previously announced mean the following changes from 6th April 2010: