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SE21 8JP.
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Darling’s 2009 Budget
/in Budget, Tax/by TaxfileOn Wednesday of this week Chancellor of the Exchequer, Alistair Darling gave the Budget. We would like to present you some of the main points of the Budget: • VAT: the VAT rate, now 15%, will return back to the standard rate of 17.5% from 1st January 2010. • Companies’ loss carry back for business: […]
Statutory Sick Pay (SSP)
/in National Insurance, sick pay, SSP, Tax/by TaxfileStatutory 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!
/in Dulwich, Multilingual staff, Tax, Tax agents, Tulse Hill/by TaxfileWith 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 […]
Taxfile-Jobseeker’s Allowance
/in Jobseeker's Allowance, JSA, South London, State Pension, Tax, Tax agents, unemployment/by TaxfileUnemployment figures are now showing that just over 2 million people in the UK are out of work, this unfortunately means that when you are out of work you are not earning. Fortunately there is an allowance where if you are unemployed and available for work, you could qualify for something called Jobseeker’s Allowance depending […]
Disability Living Allowance
/in Child tax credits, Disability living allowance, DLA, HMRC, Income support, pension credit, South London, Tax agents, Tax credits/by TaxfileDisability 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
/in Accountancy, Employee, Employer, HMRC, London, scholarship income, South London, Tax, Tax accountant, Tax advice/by TaxfileBy 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 […]
Vat Flat Rate Scheme
/in Capital assets, Flat rate scheme, HMRC, South London, Tax accountant, Value Added Tax, VAT/by TaxfileThe VAT flat rate scheme was introduced on 24th April 2002 and was designed to assist small businesses through calculating VAT payments as a percentage of their turnover. This scheme was developed to reduce the cost of complying with VAT obligations and the time spent by removing the need to calculate and record output and […]
Maintenance Payments Relief
/in Alimony, Capital gains tax, Child support, Maintenance Payments Relief, South London, Tax bill, Tax relief, Tulse Hill/by TaxfileOur 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!
/in HMRC, Self-assessment, Self-employed, South London, Tax, Tax accountant, Tax enquiry/by TaxfileAn 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 Accountants, HMRC, Income tax, NIC, pension credit, Personal allowance, SME, State Pension, Tax, Tax credit, VAT/by TaxfileIn 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 […]