UK Tax News from TaxPenny

Are you overpaying tax on your Pension?

Can you be sure as a pensioner that you have been correctly taxed? Not so, according to the National Audit Office.

Receiving rent from residential property?

Do you need to notify the taxman if you are receiving rent on any residential property?

UK PAYE and CIS Tax Calculator from TaxPenny

We have just launched our new online tax calculator at http://www.uktaxcalculators.co.uk. You can quickly and accurately get figures for the following: Personal Allowances for Widows and Blind Married Couples Allowances National Insurance Reductions and Exemptions CIS Workers can calculate Class 2/4 Contributions and Check for refunds! Tax Code Validation  and Calculations for NT, BR, OT, [...]

Want to become a TaxPenny Affiliate Partner?

New Affiliate Scheme - Become a TaxPenny Partner.

TaxPenny UK Tax Accounting Online

Good news for our existing and prospective clients, we've made it even easier for you to fulfil your tax obiligations with our new online client account system.

MP’s Expenses on Tax Returns?

Alistair Darling claimed £1,400 in costs of accountancy advice for filling his personal tax return using expenses intended for public duties. This, along with other types of expenses claimed, caught HM Revenue and Customs interest and they have warned that MPs should pay tax on reimbursed fees paid to accountants providing personal tax advice or [...]

Dentists Tax Returns – Staying on the good side of the Taxman

Recently qualified Associate Dentists, now of Self Employed status, it can be daunting to manage your own personal tax affairs and ensure compliance with UK Tax Law. With the Self Assessment system of preparing Tax Returns, it is now your responsibility to prove that items declared on your Tax Return are true and accurate, if [...]

Doctors Tax and Private Practice Income

Medical professionals: An additional source of income is great, but what are the tax implications? Receiving private practice income in addition to your regular salary is chargeable to income tax as a self employed basis, this may include liability to National Insurance Contributions depending upon your level of additional income. This income would be declared [...]

Online Tax Refunds made simple!

TaxPenny have simplified the tax refund process further with the introduction of tax calculators on it’s website at www.taxpenny.co.uk. The new inspecTax system allows individuals from various fields of employment to estimate how much tax may be due to them going back as far as the last 6 years. So you can get a good [...]