The start of the 2016/17 tax year saw the introduction of the Personal Savings Allowance (PSA); from 6 April 2016 basic rate taxpayers can receive £1,000 interest income free of tax. Interest from ISAs does not count towards the PSA because it’s already tax free. Higher rate taxpayers have a £500 allowance and those with … Continue reading Tax Efficient Income Extraction from Your Limited Company
...I didn’t think so! As Christmas draws closer, most people in work are looking forward to their much deserved time off, and, of course, the Christmas Party! To keep up the festive cheer, the tax man is offering tax exemptions to businesses of all sizes for employee entertainment. To obtain the exemption, the event must … Continue reading Thinking of giving the Tax Man a gift this Christmas?