personal taxatation Archives - Page 51 of 52 - Whitefield Tax - Isle of Wight Accountants

Investment properties held by individuals

by Jessica Garbett | Mar 14, 2014 | ACCA, personal finance, personal taxatation

Find out how the accounting treatment of investment properties held by individuals has changed. Individuals who hold investment properties and receive rental income need to disclose the rental income on their tax returns. Until 5 April 2013 this had to be done using...

It pays to declare

by Jessica Garbett | Feb 24, 2014 | personal taxatation

‘Closing the tax gap’, or the difference between the tax actually collected and that which HMRC thinks should be collected, represents an important challenge for the Department. The tax gap reflects tax lost for a variety of reasons. These include criminal attacks on...

High income child benefit charge

by Jessica Garbett | Feb 17, 2014 | ACCA, HMRC, personal finance, personal taxatation

The 2012/13 self-assessment tax return for individuals includes, for the first time, a section in respect of the high income child benefit charge. The income tax charge on child benefit for high income families came into force on 7 January 2013 and therefore, for the...

Limit on income tax relief takes effect

by Jessica Garbett | Feb 14, 2014 | ACCA, personal taxatation

New legislation limited to amount of income tax relief available from tax year 2013-14 onwards. Finance Act 2013, Schedule 3 has introduced a limit to certain income tax reliefs available to reduce an individual’s adjusted total income for a tax year; these were...

Trading losses

by Jessica Garbett | Feb 13, 2014 | ACCA, business taxation, personal taxatation

With the self-assessment deadline fast approaching, there are options how trading losses may be utilised for tax purposes. A profitable business will pay tax on its profits but when times are not so good it will need to ensure that any available loss relief is...

Another year, another set of tax codes

by Jessica Garbett | Feb 3, 2014 | employer returns, personal taxatation

Those of you who pay tax via ‘Pay As You Earn’ (PAYE) should receive your new tax codes from HMRC this month. This may not happen if your affairs are simple, for example you only have one source of income, but it is still important to check that your first pay slip...

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Investment properties held by individuals

It pays to declare

High income child benefit charge

Limit on income tax relief takes effect

Trading losses

Another year, another set of tax codes

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