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
Monthly deadline approaching for furlough claims
HMRC has reminded employers that there are now monthly deadlines for claims for furloughed staff under the Coronavirus Job Retention Scheme (CJRS).
ICAEW calls for further guidance on CIS changes
The Institute of Chartered Accountants in England and Wales (ICAEW) has urged HMRC to publish draft regulations and guidance on the forthcoming changes to the Construction Industry Scheme (CIS).
Chancellor unveils £4.6 billion lockdown grant package
The payments are expected to support 600,000 business properties across the UK. A further £594 million will be made available to councils and devolved nations to support businesses not covered by the new grants.