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Tag: Nantwich

Alextra Accountants
Savings Income – Do You Need To Claim Back Tax?
From 6 April 2016 onwards, bank and building society interest has been paid gross without the deduction of tax. However, previously basic rate tax was deducted at source unless you were a non-taxpayer...
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Alextra Accountants
Jointly Owned Property – How Rental Income Is Taxed
The situation where a married couple or civil partners jointly own an investment property that they let out is a familiar one, but when it comes to the rental income, special rules apply. Default posi...
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Alextra Accountants
Reduced Pensions Annual Allowance For High Earners
The pensions annual allowance places a cap on tax relieved contributions, which can be made to a registered pension scheme for the pension input period. From 2016/17, the pension input period is align...
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Alextra Accountants
Using The Capital Gains Tax Exempt Amount
As the end of the 2016/17 tax year draws to a close, it may be worth taking stock of your capital gains tax position and accelerating any disposals likely to generate a gain where the 2016/17 annual e...
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Alextra Accountants
Correcting Mistakes In Your Tax Return
Mistakes happen and where a mistake has been made in your tax return it is possible to file an amended return to correct the mistake. Amendment window The amended return must be filed within 12 months...
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Alextra Accountants
Making Tax Digital To Start In April 2018
Legislation to introduce Making Tax Digital (MTD) will be included in the Finance Bill 2017 and despite many objections that it was too soon, the new system of quarterly reporting will commence in Apr...
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Alextra Accountants
Salary Sacrifice After April 2017
To date, salary sacrifice arrangements have been a popular way for employees to benefit from tax-free benefits without employers footing the bill. Under a salary sacrifice arrangement, the employee gi...
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Alextra Accountants
Residence Nil Rate Band
From April 2017, a new nil rate band – the residence nil rate band (RNRB) – is available for inheritance tax purposes. It increases the amount that can be left free of inheritance tax when the estate ...
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Alextra Accountants
Buy To Let Landlords: What Is The Beneficial Interest C...
A recent article in a daily paper has made some waves. The article concerned what has been described as a controversial tax manoeuvre, under which a property portfolio that was subject to mortgages co...
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Alextra Accountants
Lettings Relief: A possible £80,000 Bonanza For Couples
  Lettings relief provides an element of additional relief where part of the gain on the disposal of a residential property is taxable because the property has been let out during a period of ownershi...
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Alextra Accountants
Overpaid PAYE And How To Get It Back
There are various reasons why a PAYE overpayment may arise. This can happen simply because an error was made when paying PAYE and too much was paid or a payment was made twice. An overpayment may also...
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Alextra Accountants
Marriage Allowance – Can I Claim It?
The marriage allowance (not to be confused with the married couple’s allowance available where at least one partner was born before 6 April 1935) enables an individual to transfer 10 per cent of their...
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Alextra Accountants
Interest Relief For Lettings – Making The Most Of The O...
The mechanism by which landlords receive tax relief for interest and other finance costs is changing from April 2017 … and not for the better. The current rules are more generous than the new rules in...
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Alextra Accountants
HMRC Cybercrime Crack Down Yields Impressive Results
HM Revenue & Customs (HMRC) claims that a recently-introduced crack down on cybercrime has already reduced the number of ‘phishing scams’ purporting to be from the Revenue by 300 million. The news com...
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Alextra Accountants
Half Of Adults Want To Retire Before State Pension Age
48% of working adults yet to retire would like to by the time they reach 61, according to Now – Pensions. 50% of the surveyed adults would also be happy to save more into their workplace pension. On a...
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