HMRC Update

Published May 4, 2012 | By admin

HMRC have changed allowances for 2012-2013

The Annual Investment Allowance (AIA) has been reduced to £25,000.

Personal allowances have increased to £8105 from £7475 for more details see http://www.hmrc.gov.uk/rates/it.htm

Higher rate (40%) Income tax ceiling has been lowered to £34,371

Electricians had just one week to register to pay any undisclosed tax that they owe under an HM Revenue & Customs campaign.

Tax Credits: Renew before 31st July 2012 deadline!