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Tax Tips

September – 2017 – Thought you understood the tax system?…Think again…Pay As You Earn is changing…

Pay As you Earn (PAYE) is the system that allows employers and pension providers to collect the tax you owe and pass it on to HMRC. Your tax code is the way they communicate between each other. It generally works… Continue Reading September – 2017 – Thought you understood the tax system?…Think again…Pay As You Earn is changing…

August 2017 – In out, in out, shake it all about!

In January this year we wrote about the new tax changes for the 2017/18 tax year. A number of these proposals came into force straight away, such as the tax free personal allowance now £11,500, changes to the inheritance tax… Continue Reading August 2017 – In out, in out, shake it all about!

July 2017 – Claim your allowances

Don’t miss out! Are you getting all of your allowances? You may be missing out on extra tax allowances just because you haven’t been made aware of them. Most of you will be aware of the personal tax free allowance… Continue Reading July 2017 – Claim your allowances

June 2017 – Don’t let it happen to you!

Scammers have become more sophisticated in their bid to part us from our cash. From email scams and copycat websites to nuisance calls and tax rebate scams, we need our wits about us. What is a Scam? A Scam is… Continue Reading June 2017 – Don’t let it happen to you!

May 2017 – The end of the tax year but was it right?

As your letter box rattles with your end of year paperwork like P60’s and savings/investment information, it is a good time to check whether you have paid the correct amount of tax for that year and also to make sure… Continue Reading May 2017 – The end of the tax year but was it right?

April 2017 – Credit where credit’s due? Not any more

If you receive dividends on shareholdings you may have noticed a change in the supporting documentation for any dividend paid after 5 April 2016. The associated tax credit voucher you’ve seen in the past has been abolished and replaced by… Continue Reading April 2017 – Credit where credit’s due? Not any more

March 2017 – Making tax digital

Well, it had to happen eventually! HMRC are making changes to the way the tax system works and by 2020 they will have moved to a fully digital tax system where: taxpayers should never have to tell HMRC information it… Continue Reading March 2017 – Making tax digital

February 2017 – Facing a Tax Penalty?

February is the month when HMRC send out penalties to people who have failed to file their 2015/16 tax return. If this is why you have received a penalty it is best to act quickly, especially if you normally file… Continue Reading February 2017 – Facing a Tax Penalty?

January 2017 – Happy Tax New Year

We know the 2017 New Year celebrations are all well and truly over but the new 2017/18 tax year is approaching fast and although it doesn’t create the same celebratory mood it can certainly cause a headache! So to try… Continue Reading January 2017 – Happy Tax New Year

December 2016 – Married? Could you save £220?

The marriage allowance was introduced in April 2015 and uptake has been low; in fact millions of people who are eligible to claim the marriage allowance haven’t done so. It’s quite an easy process to claim it. In 2015/16 it… Continue Reading December 2016 – Married? Could you save £220?

Mark Hadley Design