|
Tax changes for from 6 April 2008 - 2009
Income Tax :
10% starter rate of income tax abolished, except on savings income for people who are low paid.
Basic rate of tax comes down from 22% to 20%
65 or older, increase to £9,030
75 or older, increase to £9,180
Non domiciled:
now have to pay £30,000 a year to keep their privileged tax status, once they have had it for seven years.
they lose their previous eligibility for personal tax allowances immediately if they want to keep the "remittance" basis of their taxation.
National Insurance:
Rate of 11% is now being levied on incomes, up to £40,040 a year.
The small but vocal group of tax-payers known as the non-domiciled, will
Benefits:
All are going up as every year. Higher winter fuel payments for pensioners.
Tax Credits:
Working Tax credit rises by £1,200 to £6,420.
Savings:
The annual limit on savings rises to £7,200 and up to £3,600 of this can be saved as cash.
Capital Gains Tax:
A new "one-size fits all" flat rate of CGT - at 18% - is coming in to replace taper relief and indexation allowances
basic annual CGT exemption goes up to £9,600
Entrepreneurs will get some extra relief as CGT lifetime allowance of £1m taxed at a lower rate of 10%.
Business Tax:
Since April 1 the main rate of corporation tax dropped from 30% to 28%. But for small companies the rate goes up to 21% from 20%.
Building allowances are being phased out; the main allowance rate for plant and machinery goes down from 25% to 20%; but a new 100% allowance comes in for investment in new plant up to £50,000.
Instead of paying just 50% rates on empty shops and offices, owners will now have to pay 100% after a short period of time.
And empty factories and warehouses will now have to pay 100% rates instead of none at all.
Inheritance Tax:
Nil rate up to £312.000
Allowance for couples and civil partners effectively rises to a maximum of £624,000 as a result of unused nil-rate bands being transferable, on the death of the first partner or spouse.
Motoring:
The tax for Band G cars goes up from £100 to £400, but vehicle excise duty rises by only £5 for other bands.
|
Secure document transfer Click here No need to send documents via mail or fax. easily transfer documents from continent to continent like you are in the same building, takes 30 minutes at maximum for new customers. Just pay, notify of recipient email and the recipient will be emailed of with log in details and after log in can download documents you uploaded to our server.
Once your payment has been received you will be emailed a secure log in address to upload the documents to us for distribution. Price is per document and per recipient. |
 | Whilst you are dressed and ready to go for your social engagement, take the easy route with your work things. Order instant work processing online and all you have to do is fax your draft with your payment reference number or upload your digitally recorded voice files named with your payment reference number and what's to stop you enjoying yourself whilst you know your work is done and ready when you need it! Cut wasted time to a minimum |
New Office service, Accounting Press here Choose from a range of options
book keeping only, payroll, VAT, currency, banking, cash flow forecasts, subject to contract, your messages can be displayed on the Internet service panel, viewable from anywhere, log in required.
|
| |
