Although the phrase itself implies avoiding paying tax, there is a big difference between tax avoidance and tax evasion. Tax avoidance schemes have been commonplace for decades and they are in fact a legitimate way to reduce your tax bill. Continue reading Tax Avoidance
Monthly Archives: April 2012
60% Tax For Earnings Over £100k
It is very easy to analyse figures when there are different factors involved and to come up with an equivalent tax figure. This equivalent figure is basically classed as the amount of earnings you will lose in tax as your earnings increase over various levels. Not only do you take into account the actual tax you are paying but also any difference in tax paid at a lower rate. Continue reading 60% Tax For Earnings Over £100k
Income Tax Rates 2012
So with every new tax year comes changes in the UK personal income tax rates. Since the change in Government there have been quite a few changes in not only personal allowances but also income tax. Continue reading Income Tax Rates 2012
Last Chance For 2011/12 ISA
So there is only one day left for the 2011/12 tax year and this means that many people will be making sure that they have used up their personal allowances in terms of savings and investments. The government sets maximum limits on how much you can put into tax free (ish) saving plans each year and the year runs from 6 April until 5th April. Continue reading Last Chance For 2011/12 ISA