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
Chancellor extends furlough scheme until end of April 2021
Businesses affected by the coronavirus (COVID-19) can make use of the CJRS until the end of April 2021, with the government continuing to pay 80% of employees' salaries for hours not worked until the end of April.
Preparing for the end of the Brexit transition period
It is now less than a month until the Brexit transitional period comes to an end. Although the UK officially left the European Union (EU) on 31 January 2020, it has since been in the 11-month transition period