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
Supreme Court backs small firms on business interruption claims
The UK's Supreme Court has found in favour of small firms receiving payments from coronavirus (COVID-19) business interruption insurance policies.
COVID-19 is reasonable excuse for self assessment late filing, says HMRC
The UK's Supreme Court has found in favour of small firms receiving payments from coronavirus (COVID-19) business interruption insurance policies.
Taxpayers using Time to Pay to spread cost of tax payments
Tax payments worth over £69 million are being spread through HMRC's Time to Pay facility, according to the tax authority.