- Published: Tuesday, 09 September 2014 12:16
- Written by TaxRefundPro
An estimated 175,000 Britons who live abroad and draw rental income from property they own in the UK could see their £10,000 personal allowance slashed under new proposals from George Osborne, the Chancellor of the Exchequer. In financial terms, this would mean that based on the minimum 20% rate of income tax, expat couples could be £4,000 worse off in the year (£2,000 each).
Government Plans To Slash Expats’ Personal Allowance
In total, the move is said to be affecting up to 400,000 people and earn the Exchequer an extra £400 million a year. The curtailment of personal allowance will also affect retirees who draw a UK pension and who live overseas.
- Published: Wednesday, 16 July 2014 10:03
Yesterday, HMRC revealed a best off compilation of excuses (some quite hilarious) used by tax credits claimants. This is a fun way to remind anyone wishing to renew their tax credits that they have until July 31 to do so, otherwise they could face losing their entitlement. According to HMRC’s own figures, “more than 5.8 million tax credits renewal packs were sent to claimants between April and June” and “more than 87 per cent of claimants renewed by the deadline” last year.
Top 10 Tax Credit Renewal Excuses
For the first time, tax credits renewal can be done online at GOV.UK, making the process a lot easier for all concerned..In the chart of brainless excuses given by claimants to HMRC for missing the deadline, we find:
- Published: Monday, 30 June 2014 12:16
- Written by TaxRefundPro
Ok, we all know that many people overpay their income tax and can claim a refund from HMRC. If this is your case, we can help as we are a private registered tax agent with HMRC. However, be aware that if you are employed and hold more than one job concurrently you could also run the risk of underpaying tax and end up owing money to HMRC at a later date. How is this possible? Let’s take an example.
Make Sure You Don't Underpay Your Tax!
A friend of a friend is employed full time as a cleaner in a hospital, this is his main job. To make ends meet, about eighteen months ago he took up a second job part time in a sandwich shop. To his surprise, ...
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