personal finance Archives - Page 3 of 11 - Whitefield Tax - Isle of Wight Accountants

ACCA on Covid-19 impact on maternity, paternity and adoption pay

by Jessica Garbett | Jun 11, 2020 | ACCA, business issues, Covid19, employer returns, personal finance

Changes to ensure furloughed employees are not disadvantaged. There has been a change in the calculation of leave for employees addressing the fact that a furloughed employee may be disadvantaged. The Entitlement to Statutory Maternity Pay and other forms of parental...

Taxing times for children?

by Jessica Garbett | Jan 23, 2020 | ACCA, personal finance, personal taxatation

A detailed look at taxation and children. Subject to some exemptions, a child may have taxable income which is chargeable; however, the child will have full entitlement to personal allowances and reliefs. The rights and obligations of a child with taxable income rest...

Don’t forget the state pension!

by Jessica Garbett | Dec 9, 2019 | ACCA, pensions, personal finance

A handy guide to help you review your state pension provision. An overhaul in April 2016 replaced the old two-tier system with a flat-rate state pension, which is now (in 2019/20) £168.60 per week. However, the amount a person is entitled to depends on their National...

Missed Your tax Credit Renewal? Make Your Claim Now

by Jessica Garbett | Aug 12, 2019 | ACCA, personal finance

Don’t delay tax credit renewal – If you missed the tax credit renewal deadline make your claim now. On 1 July 2019 HMRC launched an advertising campaign reminding customers to renew their tax credits by the deadline, which was 31 July. Guidance on how to renew...

Tax free childcare

by Jessica Garbett | Jun 18, 2019 | ACCA, personal finance, personal taxatation

Scheme could reduce childcare costs by up to £2,000 per child per year. Childcare vouchers (and directly-contracted childcare) were withdrawn for brand new applicants from 4 October 2018. Those who had not already signed up for childcare vouchers previously must have...

Pensions – Lifetime allowance charge with worked examples

by Jessica Garbett | Apr 22, 2019 | ACCA, pensions, personal finance, personal taxatation

The lifetime allowance charge (LAC) arises when a person has a pension scheme (or schemes) with a value of more than the lifetime allowance (LA). If there is a LAC then this gives rise to a tax liability which is paid to HMRC. A person may be a member of a number of...

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ACCA on Covid-19 impact on maternity, paternity and adoption pay

Taxing times for children?

Don’t forget the state pension!

Missed Your tax Credit Renewal? Make Your Claim Now

Tax free childcare

Pensions – Lifetime allowance charge with worked examples

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