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
HMRC issues self assessment scam warning
HMRC's enhanced version of the check employment status for tax (CEST) tool is failing to make a determination for one in five off-payroll workers, according to HMRC's statistics.
Claims for furlough days in November 2020
From 1 November 2020 you can claim 80% of an employee’s usual salary for hours not worked, up to a maximum of £2,500 per month.
IR35 status check failing to deliver results in a fifth of cases
HMRC's enhanced version of the check employment status for tax (CEST) tool is failing to make a determination for one in five off-payroll workers, according to HMRC's statistics.