Landlord

“[The introduction of independent taxation between spouses was] bound to mean that some couples would transfer assets between themselves so that their total tax will reduce; this was an inevitable and acceptable consequence of taxing husbands and wives separately“. Taking this statement from the Chancellor of...

Cash basis for landlords – when does it apply? The cash basis simply takes account of money in and money out – there is no need to worry about debtors and creditors and prepayments and accruals. Income is recognised when received and expenditure is recognised when paid. Since 6 April...

Income Tax Rates and Bands Recent income tax rates and bands are as follows: 2015/16 2016/17 2017/18 Savings rate: 10%, 0% from 2015/16 0 - £5,000 0- £5,000 0- £5,000 Dividend Allowance: 20% NA 0 - £5,000 0 - £5,000 Basic rate: 20% 0 - £31,785 0 - £32,000 0 - £33,500 Higher rate: 40% £31,786 - £150,000 £32,001 - £150,000 £33,501 - £150,000 Additional rate:...

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