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Savings

31
Mar

Personal savings allowance

Posted on in Savings
A new Personal savings allowance is to be introduced with effect from 2016/17 at the rate of £1000 for basic rate taxpayers and £500 for higher rate taxpayers. There will be no allowance for additional rate taxpayers. To avoid any problems with claiming back tax taken out at source from savings inc... Continue reading
Last modified on
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31
Mar

Savings Tax rate

Posted on in Savings
The chancellor also announced a change in the savings rate band. The new rate of 0% will arise on the first £5,000 of savings income.  This has opened up a new possibility of increasing income from a limited company with no additional income tax payable whilst at the same time obtaining corpor... Continue reading
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News Categories

Tax (35)
PAYE (2)
VAT (9)
LBW News (9)
Economy (7)
Accounting (11)
Payroll (7)
Savings (2)
Landlords (1)
Industry (1)
Marketing (1)
Pensions (1)