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Pre-Budget Report 2009

Wednesday, December 9, 2009

Alistair Darling revealed his Pre-Budget Report at 12:30 PM today. VAT will be going back to 17.5% from January 1st as expected. Small companies benefit from a deferment in the increase of corporation tax. He’s added a 10% corporation tax for income from patents in the UK and wants to charge banks 50% on any [...]

pre-budget report 2009, tax

Budget 2009

Saturday, May 2, 2009

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Alistair Darling presented his second Budget on Wednesday 22 April 2009. Having acknowledged the depth of the recession, he hinted that the Budget measures would enable the UK economy to begin to grow ‘by the end of the year’. As always the timing of the changes needs to be carefully watched – some are immediate but [...]

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Budget day confirmed

Thursday, February 26, 2009

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Chancellor Alistair Darling will present his Budget speech at 12.30pm on Wednesday 22 April 2009. We will keep you informed of any further developments. Source: HMRC announcement

budget, tax

Pre-Budget Report 2008

Wednesday, October 15, 2008

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Chancellor Alistair Darling presented his second Pre-Budget Report on Monday 24 November 2008. As expected Mr Darling concentrated on measures to protect and support businesses and individuals in these ‘extraordinary, challenging times for the global economy’. This summary concentrates on the tax measures which are being introduced. The main tax proposals are: reduction in standard rate of VAT [...]

budget, tax

Dividends vs Salary - Are Dividends Still The Low Tax Option

Thu, Mar 4, 2010

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The examples below explore the tax efficiency of the different ways in which it may be possible to extract profits from your business. You have the options of: Operating as a Sole Trader (No limited liability, No shareholding ability). Incorporating as a Company (Limited Liability, Ability to hold shares). For illustration purposes, we will use a Gross Company Profit [...]

directors, dividend, salary

Corporation Tax Calculator

Thu, Feb 25, 2010

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We have added a Corporation Tax Calculator to our Tax Calculator website. You can calculate from 2007/08 to 2010/2011. Just enter your gross profits and the calculator will deduce whether you are in the small companies rate band or main rate. If you are above the small companies rate, the calculator will apply small companies marginal relief.

corporation tax

Dividend Tax Calculator

Thu, Feb 25, 2010

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We have added a Dividend Tax Calculator to our tax calculator site! Just enter the net dividend you are taking, and the calculator will give you the amount of tax to pay. This is updated for the 2010/2011 rates on dividends where there is an additional higher rate of 42.5% where the gross dividend is over £150,000.

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Tax Code Help

Fri, Feb 19, 2010

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Following on from our earlier post about HMRCs error with tax coding notices here, we have added a tax calculator to help you check whether your tax codes are correct if you are working 2 seperate employments. The calculator will take your first and second job details to produce the individual taxation breakdown for their individual [...]

tax codes

Tax Graph

Sat, Feb 13, 2010

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We’ve added a tax graph to our existing tax calculator website. You can now see how taxation on any sum has changed over the last 7 years when calculating tax. Give it a try at our tax calculator!

tax graph