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You are currently browsing the archives for the Personal Tax category.

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Archive for the ‘Personal Tax’ Category

Tax Planning for 2013/2014

March is a perfect time to consider some last minute tax planning. Here are some common and fairly easy tax planning tips that can be done before the end of the year to reduce your tax bill for 2012/13. HIGHER RATE TAX PAYERS Pension contributions By paying contributions into a personal pension plan, you can[…] Read more »

Child Benefit Charge

You will probably be aware that from January 2013 the Government is implementing the Child Benefit Charge for those with high income. This will mean that Child Benefit will effectively be withdrawn gradually from those where one parent/child carer or their partner has taxable income of more than £50,000, and withdrawn entirely from those families[…] Read more »

Planning for the 45% tax rate

The present tax rate on earnings in excess of £150,000 is 50%. Some would say that you are in a fortunate position to be earning over £150,000 but regardless of how much you earn, handing half of it to HMRC doesn’t sound good. From 6 April 2013, the top rate of tax is to be[…] Read more »