UK Tax

Major Changes in Tax Credits

April 8, 2011
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Many of you may be wondering how the latest changes to the Tax Credit system will affect you. Gary from our Omagh office outlines the key points: April 6th is the start of the new Tax Year and for many self-employed this will coincide with the start of a new accounting year. Whilst there have [...]

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Tax Relief on Pensions is Reduced

January 7, 2011
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The Government has announced changes to the pensions rules which will result in a sharp reduction on the tax relief on money taxpayers invest in a pension. What’s changed? There are two main changes to the current system: From April 2011 the Annual Allowance (AA) will be reduced from £255,000 to £50,000 and will remain [...]

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Are you Ready for the 20% VAT Rate?

December 1, 2010
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The standard rate of VAT goes up on 4th Jan 2011. Now is the time to prepare for this change. Zero-rated supplies (such as basic foodstuffs, children’s clothing and books), exempt supplies (such as education and health) and supplies subject to VAT at the 5% reduced rate (such as domestic fuel and power) are not [...]

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