I’m sure many small business owners can agree that, when it comes to taxes, it is difficult to know where you stand once you know you are turning a profit. Predicting where you are profit-wise in a small business can leave you confused and with a lot of paperwork and that’s not brilliant – this [...]
Tuesday, March 12, 2013
A brand new version of the popular, and free, UK Tax Calculators iPhone and iPad App has just been released at the App Store. The new app is a major redesign of the existing application, which has been crunching the taxes of thousands of taxpayers daily. Features include: Single Income Tax Calculation (People who are [...]
Thursday, December 27, 2012
We hope you had a great Christmas and wish you a happy new year from everyone at TaxPenny! 2013 Tax Updates Get your taxes in order – if you need to submit a tax return for income earned between the 6th April 2011 and 5th April 2012, you need to get this submitted electronically to [...]
Friday, June 22, 2012
Over the last few days there has been a lot of coverage about comedian Jimmy Carr and the legal method by which he avoids paying tax on £3.3m of income per year. After days of public backlash, Carr used the online medium of Twitter to apologise for his ‘error of judgement’ over taking part in [...]
Thursday, September 29, 2011
If you are an employee and taxed via PAYE (Pay As You Earn) your payslips from your employer, or employers, are calculated on a cumulative basis. What this means is that your employer uses the tax code that has been given for you for a particular tax year to calculate your tax free allowances on [...]
Wednesday, April 20, 2011
The importance of setting yourself financial goals, both short and long term, is to be noted in the financial climate we all find ourselves in at the moment. Some people have a rough idea of where their money goes by skimming through bank statements every month, others choose to use sophisticated planning software to keep [...]
Wednesday, February 2, 2011
For those of you who have income from various sources, a singular tax calculator is probably not going to be accurate as each income source affects the calculation of the various separate types of income tax. To make this easier you can now use our UK Tax Wizard website to quickly and accurately get a [...]
Sunday, January 23, 2011
Following on from our update late last year to reflect the tax rates and allowances for the upcoming 2011/2012 tax year, we have just completed the addition of a new unique feature to help you keep track of your personal taxation. In the UK, employed people pay Class 1 National Insurance Contributions on PAYE income [...]
Thursday, January 6, 2011
How should you charge VAT for your tenants? Now that the standard rate of VAT has increased by 2.5 percent from 17.5 percent to 20 percent, we have made a quick outline into what these changes mean for people operating within the property sector.
Tuesday, December 14, 2010
Just a quick reminder – the current 17.5% VAT rate will be increasing to 20% from January 4th 2011. This means anything standard rated that is sold on or after this date should have VAT applied at the new 20% rate. Where you have provided an invoice after the 4th January date, but provided the [...]
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Monday, May 13, 2013
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