Around midday tomorrow (20th March 2013), the Chancellor of the Exchequer George Osbourne will make his Budget 2013 statement to Parliament, outlining their plans with regard to how much tax the Government will collect, how much the Government will borrow, and how much the Government will spend.
Keepers Accountancy's Blog
So it's Christmas time, and the purse strings are getting tighter and tighter with each present you buy.
The Government have announced changes to the way your income is taxed. At the moment (2011-12), there is a personal allowance of £7,475 that can’t be taxed. The Chancellor today announced that the personal allowance 2012 – 13 will rise to £8,105.
We have now entered a new year, full of many opportunities, and of course it's another chance to start a-fresh after a hectic Christmas period, but the question is -
Did you know that if you invest in a premium bond, you get your winnings completely tax-free?
You can use the Enterprise Management Incentive, a type of share option scheme, to provide tax-efficient, targeted incentives to your key employees, or employee groups. Your employee is given the right to purchase shares in your company (the employing company) in the future (an option) at a price set at the date of grant (the exercise price). Your employee then gains when the value of the shares rises above the exercise price. The Enterprise Management Incentive is designed for use by smaller companies.
The Government have announced changes to the way your income is taxed. At the moment (2010-11), there is a personal allowance of £6,475 that can’t be taxed.
Expenses is a very large area of tax, and one of the most challenging as well, which is why we’ve written this blog post; to try and give you an idea of some of the expenses that you can claim.
Capital Gains Tax (CGT) applies when chargeable assets are disposed of and is applicable to individuals and trustees but not to limited companies, although Limited Companies do pay Corporation Tax on the gains that they make.