Currently, if other taxable income is below £2,880 then the remainder of this band is available to savings income to be taxed at the starting rate of 10%. This will change for the next tax year. From April, the band will be increased from £2,880 to £5,000. At the same time, the starting rate of … Continue reading The taxation of interest is changing from April →

As we approach the end of the tax year then there are opportunities available to minimise your tax liability. Here are five relatively easy ones. 1. Avoid or Reduce the High Income Child Benefit Charge This is a clawback of any child benefit received when the higher paid partner in a relationship has adjusted income … Continue reading Five ways to minimise your tax liability →

There has always been a distinction between tax avoidance and tax evasion. Tax evasion is the illegal evasion of tax by deliberately misrepresenting their true affairs to the tax authorities, usually either by dishonestly understating or omitting income or by overstating or inventing expenses. In comparison, tax avoidance is reducing the amount of tax that … Continue reading There has always been a distinction between tax avoidance and tax evasion… →

Following considerable concerns expressed by the profession and other bodies representing taxpayers concerning the proposals to allow the tax office to raid taxpayers’ bank accounts, the government has recently announced significant safeguards in these proposals. Whilst these do not answer all of the concerns, they will provide additional protection to the taxpayer. The proposed modifications … Continue reading Access to Taxpayers Bank Accounts by the Tax Office →

We have recently received two letters in respect of clients with a registered office at our address. They are headed up “Publication of companies and VAT Registration Numbers in the UK Corporate Portal 2015” The letter purports to refer to changes in EU legislation requiring publication of VAT numbers on various documents and databases. Enclosed … Continue reading An Old Scam Letter Re-emerging →