Archive for April, 2015

Transfer £1,060 of your personal allowance to your partner

From April 2015, if you are not liable to Income Tax, or not liable to Income Tax above the Basic Rate you can transfer £1,060 of your personal allowance to your spouse or civil partner, if the recipient is not liable to Income Tax above the Basic Rate (meaning, no sacrificing Basic Rate Tax to save Higher Rate Tax!) This will save upto £212 for couples where one partner is unable to use all their personal tax allowance.


Income Tax Rates & Allowances and NIC's Rate for 2015-16 from today

Income Tax Rates 20% Basic Rate: £0 – £31,785 40% Higher Rate: £31,786 – £150,000 45% Additional Rate: £150,000+ Income Tax Allowances Personal Allowance for anyone born after 1938 £10,600, born before 1938 £10,660, (income limit for age related allowances is £27,700).  Blind Persons Additional Allowance £2,290. National Insurance Rates Class 1: Lower Earnings Limit (LEL) £112, Primary Earnings Threshold (PET) £155, Secondary Earnings Threshold (SET) £156, Upper Accrual Point (UAP) £770, Upper Earnings Limit (UEL) £815. Class 2: £2.80 per week, Small Earnings Exception £5,965 per annum, Special Rate for Share Fisherman £3.45 per week, Special Rate for Volunteer Development…


HMRC Basic Paye Tools for Employers doing their own Payroll

The software is downloaded onto your computer and helps you run the payroll for upto 9 employees, and report in real time to HMRC.  Find it here; payroll-system.htm The 100 page Employer Payroll Guide 2015 is also available to help you here; For those of you who don’t want to do it yourself, just give us a call on 0333 320 7032 and we’ll do it for you, while you get on with doing what you’re good at… earning the money!

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