Author archive

Sian Kelly

Overpaid tax? How to claim it back

October 16, 2018 | by Sian Kelly | No comments

There are various reasons why you may have paid more tax than you needed to for a tax year. For example, if you only worked at the start of the year, you may not have received all of your personal allowance.

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Savings Income- how is it taxed?

October 09, 2018 | by Sian Kelly | No comments

The taxation of savings income can be complicated as there are various allowances and rates that come into play. However, most people are able to enjoy savings income tax-free.

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Subsistence expenses – How to use the benchmark scale rate

October 02, 2018 | by Sian Kelly | No comments

The option to pay employees flat rate subsistence expenses tax-free can be an attractive one; the employees are clear on what expenses will be paid, and the employer is saved the work involved in reimbursing the actual amounts incurred.

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Inheritance Tax and potentially exempt transfers

October 01, 2018 | by Sian Kelly | No comments

It is possible to make gifts during your lifetime free of Inheritance Tax (IHT), as long as you live for more than seven years after making the gift. Most lifetime transfers are ‘potentially exempt transfers’ (PETs).

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High Income Child Benefit Charge

September 17, 2018 | by Sian Kelly | No comments

The High Income Child Benefit Charge is effectively a clawback of child benefit paid to ‘high income’ individuals and couples. The charge does not only apply to the recipient of child benefit or the parents of the child in respect of whom child benefit is paid-

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Dividend income – How is it taxed in 2018/19?

September 11, 2018 | by Sian Kelly | No comments

The taxation of dividend income was reformed from 6 April 2016. Since that date, dividends are paid gross – there is no longer any associated tax credit – and all taxpayers receive a dividend allowance.

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