Self Assessment and Tax Returns
Income tax applies to the amount of income after deduction of personal allowances.
Income is taxed in a specific order with savings and dividend income taxed last.
A personal allowance gives an individual an annual amount of income free from income tax.
Income above the personal allowances is subject to income tax.
At Cox Costello & Horne we can assist with any queries you have surrounding rates and allowances.
Insights and latest news
National Insurance and Dividend Increase
National Insurance is a tax that funds services including the NHS, maternity, sick and bereavement pay, and the state pension. It is paid by those who are earning, and people stop paying when they reach the state retirement age. The amount paid depends on what people earn. This is planned to increase in 2022/23 by 1.25%
Making Tax Digital (MTD) for Income Tax
We have compiled some simple tips for you to make the best use of Quickbooks to reduce time spent on this online resource.
NIC reliefs set for Freeports
Freeport operators will be able to take advantage ...