HMRC Announce Annual Tax Summaries Are Coming

Tax Summaries are part of the Government’s commitment to creating a more transparent personal tax system, one that shows individual taxpayers how much tax they are paying and how the Government spends it. Tax Summaries will detail individual taxpayers’ income tax and National Insurance contributions for the tax year, and will include a table and…

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What is the Annual Investment Allowance

The AIA was introduced in 2008. It is an allowance for tools and equipment meaning a business can write off 100% of qualifying capital expenditure (up to a set limit – currently £500,000) against taxable profits for the same period. (Expenditure over the limit is subject to the normal writing down allowances of 18 or…

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