Archive

Land of Hope and Tax Waste

<p>This year the UK public is set to waste around &pound;4.6 billion in unnecessary tax. A similar figure was frittered away last year. Why is this happening, and is there anything we can do reduce this waste? The unbiased.co.uk and Prudential campaign TaxAction 2016 launches today, in a bid to do just that. If asked [&hellip;]</p>

Tax Action tips: Trading losses for self-employed or partnerships

<p>TaxCalc&rsquo;s last Tax Action tips&nbsp;blog features tips for business owners trading losses&hellip; If you are self-employed or in a partnership that has made losses be sure to utilise them effectively.&nbsp; You have a few options:&nbsp; Trading losses made in the current tax year can be offset against other taxable income (such as employment earnings or [&hellip;]</p>

Tax Action tips: Review your Payments on Account

<p>More Tax Action tips from TaxCalc! This time it’s reviewing your payments on account… If you are currently making payments on account under the self-assessment scheme the default position is that they are based on the previous year’s tax bill. If your taxable income is increasing year on year then there is no need to review them [&hellip;]</p>

Diary of an adviser: Tax planning tools for clients

<p>Minesh Patel talks tax planning tools for clients in his guest &#8216;Diary of an adviser&#8216; blog, supporting unbiased.co.uk&#8217;s Tax Action campaign sponsored by TaxCalc.  You can view Minesh&#8217;s unbiased.co.uk profile here. Many of my clients get very excited by investments that save them large amounts of tax such as Venture Capital Trusts.  VCTs, with the 30% [&hellip;]</p>

Tax Action tips: Claim your business mileage

<p>More Tax Action tips from TaxCalc! This time it&#8217;s business mileage&#8230;  Another common area where taxpayers fail to claim relief, is on use of a private vehicle for business purposes.  HMRC publish approved mileage rates currently 45p per mile for the first 10,000 miles and 25p per mile over the 10,000 miles.  If your employer does not [&hellip;]</p>

Tax Action tips: Gift Aid Relief

<p>Tax Action 2013 sponsors TaxCalc explain in their Tax Action tips blog why it can pay to include your charitable donations in your tax returns&#8230; When it comes to making donations to charity via the gift aid scheme, the charity you donate to will receive an additional payment of basic rate tax from HMRC.  So if you donate £100 [&hellip;]</p>

Diary of an adviser: Reducing child benefit tax charges

<p>In support of unbiased.co.uk’s Tax Action campaign sponsored by TaxCalc, Scott Gallacher provides useful tips to reduce child benefit tax charges I was recently asked by a couple I know (one of the &#8216;squeezed middle&#8217; families) if I could help them. The husband is earning £52,000 and they face losing almost £30 per month in [&hellip;]</p>

Tax Action tips: Claiming tax relief on your personal pension contributions

<p>Tax Action 2013 sponsors TaxCalc share their top Tax Action tips, starting with personal pension relief&#8230; Are you missing out on your pension tax relief? It is estimated that around 250,000 higher rate taxpayers are failing to make the most of their tax relief because they mistakenly believe they receive it automatically. Did you know [&hellip;]</p>