Changes to VAT penalties and interest from 01 January 2023

Personal Tax The personal allowanceThe personal allowance is currently £11,850. The personal allowance for 2019/20 will be £12,500.CommentThere is a reduction in the personal allowance for those with ‘adjusted net income’ over £100,000 and the threshold has remained at this figure since its introduction for the 2010/11 tax year. The reduction is £1 for every…

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New VAT penalty regime and other VAT news

Personal Tax The personal allowanceThe personal allowance is currently £11,850. The personal allowance for 2019/20 will be £12,500.CommentThere is a reduction in the personal allowance for those with ‘adjusted net income’ over £100,000 and the threshold has remained at this figure since its introduction for the 2010/11 tax year. The reduction is £1 for every…

1.25% increase to NIC and dividend tax rates 

Personal Tax The personal allowanceThe personal allowance is currently £11,850. The personal allowance for 2019/20 will be £12,500.CommentThere is a reduction in the personal allowance for those with ‘adjusted net income’ over £100,000 and the threshold has remained at this figure since its introduction for the 2010/11 tax year. The reduction is £1 for every…

Budget 2021

Personal Tax The personal allowanceThe personal allowance is currently £11,850. The personal allowance for 2019/20 will be £12,500.CommentThere is a reduction in the personal allowance for those with ‘adjusted net income’ over £100,000 and the threshold has remained at this figure since its introduction for the 2010/11 tax year. The reduction is £1 for every…

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COVID-19 Update 3

Personal Tax The personal allowanceThe personal allowance is currently £11,850. The personal allowance for 2019/20 will be £12,500.CommentThere is a reduction in the personal allowance for those with ‘adjusted net income’ over £100,000 and the threshold has remained at this figure since its introduction for the 2010/11 tax year. The reduction is £1 for every…

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Update on Government schemes in response to COVID-19

Personal Tax The personal allowanceThe personal allowance is currently £11,850. The personal allowance for 2019/20 will be £12,500.CommentThere is a reduction in the personal allowance for those with ‘adjusted net income’ over £100,000 and the threshold has remained at this figure since its introduction for the 2010/11 tax year. The reduction is £1 for every…

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COVID-19 Government schemes to help

Personal Tax The personal allowanceThe personal allowance is currently £11,850. The personal allowance for 2019/20 will be £12,500.CommentThere is a reduction in the personal allowance for those with ‘adjusted net income’ over £100,000 and the threshold has remained at this figure since its introduction for the 2010/11 tax year. The reduction is £1 for every…

Dividend 2017/18 and 2018/19

Personal Tax The personal allowanceThe personal allowance is currently £11,850. The personal allowance for 2019/20 will be £12,500.CommentThere is a reduction in the personal allowance for those with ‘adjusted net income’ over £100,000 and the threshold has remained at this figure since its introduction for the 2010/11 tax year. The reduction is £1 for every…

Autumn Budget 2017

Personal Tax The personal allowanceThe personal allowance is currently £11,850. The personal allowance for 2019/20 will be £12,500.CommentThere is a reduction in the personal allowance for those with ‘adjusted net income’ over £100,000 and the threshold has remained at this figure since its introduction for the 2010/11 tax year. The reduction is £1 for every…

Changes to flat-rate VAT in more detail with examples

Personal Tax The personal allowanceThe personal allowance is currently £11,850. The personal allowance for 2019/20 will be £12,500.CommentThere is a reduction in the personal allowance for those with ‘adjusted net income’ over £100,000 and the threshold has remained at this figure since its introduction for the 2010/11 tax year. The reduction is £1 for every…