Category

Personal Tax

Jun 05 2017
Potts & Co - Accountancy & Business Advice

Paper tax return

By HMRC, Paper Tax Return, Personal Tax
Self-evidently, the UK tax system is very complex. What's surprising, however, is that HMRC can't program its computers to cope with all the permutations of rates and allowances that can apply in 2016-17. The key problem is that the law allows an individual to use their personal allowance in a…
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Sep 18 2016
Potts & Co - Accountancy & Business Advice

Landlords Beware!

By Personal Tax, Property
A new law, designed to tax foreign investors who snap up UK properties at bargain prices, may also snare UK-based landlords from 5 July 2016. When you let out a property, you pay income tax (at 20%, 40% or 45%) on the net rental income, or corporation tax (at 20%)…
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Sep 16 2016
Potts & Co - Accountancy & Business Advice

Spreading Dividends Around The Family

By Personal Tax
Every UK-resident individual can receive up to £5,000 of dividends tax free each year, whatever their marginal rate of tax. As a company owner you could arrange for your family members to receive dividends from your company to take advantage of this. Spreading dividend income in this way can reduce…
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