Come April 2018, there will be changes to tax rates, allowances, and exemptions. The changes will affect private clients, corporate and business, property, and employment. Allowances and Reliefs Personal allowance For the tax year 2018/19, the personal allowance will have an increase of £350, effectively increasing it from £11,500 to £11,850. 10% of this amount […]
Tax. Everyone working in the UK pays it yet if you were a foreign worker it can be stressful claiming your tax refund. You may be in the estimated 90% of foreign workers in the UK who have overpaid their tax to Her Majesty’s Revenue and Customs (HMRC). This is partly due to how tax […]
Self Assessment, UK Tax Blog, UK Tax Returns
What You Need To Know About Self-Assessment Tax Returns – Paper Returns Help
Do you need to submit a paper return before the 31st October deadline? If so, read these helpful tips or contact a tax agent at www.taxback.co.uk If you are self-employed, it is your responsibility to fill in a self-assessment tax return at the end of each tax year. The deadline would depend on whether or […]
Filing Your Paper Return If you’re self-employed in the UK then are required to complete a tax return. We all know tax returns can be incredibly confusing, so here are a few tips for filling out your paper tax return before the deadline. Related Articles: Self Assessment Tax Returns What you need to know about […]
Are you planning to leave the UK? You should know that you are entitled to a tax refund when you leave the country. This is especially true if you leave part-way through the tax year, where any chance of you receiving your full tax-free allowance is lost. Since your tax-free allowance is divided evenly […]
UK Tax Blog, UK Tax News, UK Tax Returns
The 2016/2017 Tax Year In A Nutshell – Refresher For Your Tax Return
Need to submit your 2016/2017 tax return? Here’s a refresher on what the thresholds and personal allowances are for the last tax year. 6 Changes in the 2016/2017 Tax Year 1. Changes in personal allowance • From the current level of £11,000, the personal allowance will rise to £11,500. • From £43,000, the threshold […]
Offshore workers in the UK are eligible for a tax refund. What is even better is that tax rebate can come from several different sources. If you know all about them, you are likely to get a significant amount of tax refund. Travel expenses Did you know that you’re eligible for a refund when traveling […]
Ever wondered what your P60 is for? Here, we take a look at why you need to hang on to that piece of paper and how it could get you more cash in the bank! If you never bothered before, you should start now. This is because it is one of the few documents that […]
UK Tax Blog, UK Tax News, UK Tax Returns
How The Spring Budget Will Affect Self Employed People In The UK
In a recent announcement of the Spring Budget, Philip Hammond has revealed an increase in the National Insurance Contributions (NIC) for self-employed, particularly in their Class 4 NIC. Not exactly good news for those people who have to cough up the increased amount. As indicated in the Budget 2017, from April 2018 NIC for self-employed […]
Christmas and New Year have come and gone and in their trail have most likely left you with little to no cash left and mountainous credit card bills to face. But fear not as claiming your tax back could be a sure-fire way to beat the January blues. Every year we make promises to ourselves […]