Personal tax allowance: Income tax rates
Your personal tax allowance denotes how much you can earn without being charged income tax. Even if you go over this allowance, you will only be taxed on earnings above it. However, this amount changes each year, and it’s worth knowing what you’re paying, especially when it comes to doing tax returns. The tax accountants at Tax Agility can show you what you need to know.
How much can you save?…
Small Business: Tax Incentives
If you were to ask a group of small business owners what tax incentives they can enjoy, you are likely to get different answers, as there are quite a few incentives out there and they can be quite confusing. Some may be relevant to you, others may not. To know more about what the UK government offers at present and what schemes are useful to you, it is best to speak with a professional accounting…
Buy-to-let: Essential tax advice for new landlords
The glory days of the buy-to-let market are supposedly over, but according to UK Finance, new investors have taken out over five thousand buy-to-let mortgages in February 2018. If you’re considering doing the same, find out what the main BTL taxes are that you’ll deal with.
Purchasing your property
You can choose to buy a property either as an individual, as a joint owner or via a limited…
How can we help you with your personal tax issues?
Tax Agility aims to offer resources to make life easier for our customers. Working with us means you will get a quality service that can help you to make sense of your personal tax issues, whether that be your personal tax returns, dealing with personal tax planning, or understanding trusts and inheritance tax.
There are many services that we offer to help you get the most out of your tax…
Personal tax accountants for you
If you find yourselves, head in hands, trying to manage your personal accounts and bookkeeping and understand terms and deadlines, then it is time to call Tax Agility. Our chartered accountants will calculate the amount of your tax liability and chart a payment plan aligned with your cash flow. We can also file your return for you, once you have given us your approval.
A key part of tax service…
Autumn Statement 2016 edition of Tax Tips & News
Individuals
Personal allowance and basic rate limit for 2017-18
The personal allowance for 2017-18 will be increased to £11,500 (£11,000 in 2016-17), and the basic rate limit will be increased to £33,500 (£32,000 in 2016-17). The additional rate threshold will remain at £150,000 in 2017-18. It was announced that the allowance will rise to £12,500 by the end of Parliament.
The marriage allowance…
Contractor Tax Changes and How They Affect You
After all the goings-on of the last six weeks, Budget 2016, which took place in the middle of March, seems a lifetime ago.
Despite this, and despite the fact that then-Chancellor of the Exchequer George Osborne has since been replaced by Philip Hammond at the hands of new Prime Minister Theresa May, all of the tax changes (or upcoming tax changes) for contractors that were underlined by Mr.…
3 Ways to Make Tax Efficient Charitable Donations
We all want to receive greater tax efficiency out of our charitable giving; both for the charity, and for us. There are three main ways in which you can make tax efficient charitable donations with either you or them being able to claim tax relief on your donation, these being when you:
declare (using an appropriate…
SME Taxes You Should Know About
If you’re a small or medium-sized business (SME) owner there are a few taxes that you should know about in order to stay on top of what you owe.
Though not all of the below taxes will apply to your current tax situation, it’s helpful to be aware of all that may show up during the lifespan of your business to make sure you’re not taken by surprise. If you’re not yet working with an accountant you…
Claiming R&D Relief is Now Faster and Easier
The new Research and Development (R&D) plan, which came into effect last month, has been designed to simplify the process of R&D relief claims for small and medium-sized businesses, while making an effort to increase awareness of the relief among small business owners who are already investing in this area.
With the new Research and Development (R&D) plan the government have handed a…