Tag: Income tax

Trivial Benefits

Home › Trivial Benefits Trivial Benefits Employees react well to lit tle rewards from their employer, especially if the treat is unexpected and seen as a genuine “thank you”. These occasional trivial benefits can be provided tax free if all four of

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Tax Cuts & Cliff Edges

There was good news for individual taxpayers in the Budget; the personal allowance will rise from £11,850 to £12,500 on 6 April 2019. This will provide taxpayers on the basic rate (20%) with an income tax saving of £130 per

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Tax Data 2019/2020

All figures are annual amounts (For English taxpayers) Allowances Personal allowance £12,500 Allowance withdrawn from £100,000 Transferable marriage allowance £1,250 Trading income £1,000 Property income £1,000 Rent-a-room £7,500Tax on earnings Earnings to £37,500 20% £37,501 to £150,000 40% Over £150,000

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