Entries by Taxfile

Statutory Sick Pay (SSP)

Statutory Sick Pay (SSP) is a standard rate state benefit payable by the employer from the fifth day of sickness. The first three qualifying days of a period of incapacity for work are called waiting days and there is no SSP payment. In order to qualify for SSP you must meet the following conditions: • […]

Happy New Tax Year!

With the new tax year just around the corner, Taxfile offers you the opportunity to save some money on your accountancy bill just by presenting this voucher when you come to see us in our office in Tulse Hill or Dulwich. So not only would you save money by getting this discount but also you […]

Disability Living Allowance

Disability Living Allowance (DLA) is a tax-free benefit for people under 65, including children, who have normally care needs or encounter problems getting about. Disability living allowance (DLA) is paid at different rates depending on how your disability affects you. There are two types of disability living allowance:one is the care component and the other […]

Taxfile: Scholarship Income

By scholarship we mean an exhibition, bursary or any other similar educational endowment. If the holder of the scholarship is receiving full-time education at a university, college or school then the income from the scholarship is exempt from tax. The rate of payment including lodging, subsistence and travelling allowances is now £15,480 a year, £1,290 […]

Maintenance Payments Relief

Our blog today is dedicated to some of our clients who wanted to know more about tax relief on alimony or child support payments.This relief is officially known as Maintenance Payments Relief. Maintenance Payments Relief can reduce your tax bill if you make maintenance payments to your ex-spouse or former civil partner or child. If […]

Tax Enquiries: Guilty Until Proven Innocent!

An enquiry is defined as seeking information, asking, questioning. Self Assessment is a process now/check later regime. According to HMRC,enquiries encompass all work carried out to check returns after processing – from a single enquiry about one entry in a return to a detailed examination of all the taxpayer’s affairs. Under Self Assessment, taxpayers have […]

2008 Pre-Budget Report

In his 2008 Pre-Budget Report speech on 24 November, the Chancellor has set out his actions for supporting people through the difficult times of the current global financial crisis. Among the most important changes to do with tax, VAT and benefits, we can mention the following: •Personal tax allowance increases to £6475, and the basic […]

Statutory Maternity Pay (SMP)

If you are expecting a baby, you might be entitled to Statutory Maternity Pay (SMP)to help you take time before and after the baby is born. This is a weekly payment from your employer. Payments of SMP count as earnings so your employer will deduct tax and National Insurance contribution in the normal way. In […]