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Do you understand Tax codes?

Do you understand tax codes?

INTRODUCTION In the 2015-16 tax year, the applicable tax code for all the tax-payers was 1060L. This tax code applied to all the individuals who received the entire tax free Personal Allowance and at [...]

How to understand Tax codes?

How to understand tax codes?

INTRODUCTION 6th April 2016 was the beginning of the tax year with the new tax code 1100L (tax code for tax year 2015-16 was 1060L). This change in the tax code meant that the take-home pay was [...]

CAR TAX REFUND

Car tax refund

A car tax refund is the amount an individual gets back on any Road Tax that has been already paid. An individual can only get a refund on the entire month and not partial months; hence it is [...]

VAT Flat Rate Changes 2017

Vat flat rate changes 2017

From 1st April 2017, the benefits of Flat Rate savings will virtually disappear for the majority of Contractors. HMRC has proposed a new flat rate percentage of 16.5% for any business of any industry [...]