07809 270210

CIS Subcontractors: A guide to allowable expenses

As a subcontractor, the easiest figure to calculate for your self-assessment income tax return is your income: it’s the sum of the monthly CIS statements you have received throughout the year from your contractors and from which you can calculate the total amount of income tax deducted at source. But what about expenses that you can claim against such earnings? You may well have read or heard...
read more

New Transferable Tax Allowance for couples

From April 6th 2015, married couples and civil partners may be eligible for a new transferable tax allowance. The measure will benefit couples where one earns less in income than the value of the personal tax allowance and the other is a basic-rate taxpayer. One partner or spouse can transfer 10% of their personal allowance to the other and this means that the recipient can earn an extra £1,060...
read more

Self Assessment Tax Return (CIS)

The 2013/14 tax year ended on April 5th 2014. So, if you haven’t already done so, NOW is the time to start gathering your accounting information for your 2014 self assessment tax return. You may well be entitled to a CIS tax rebate but only after your self assessment tax return has been completed and filed with HMRC.The Taxback Service Company has over 20 years experience in completing...
read more