personal allowance | AccountingWEB

personal allowance

Hey everyone,

I had some advice from my accountant and just wanted to check it with you guys if that's okay?


The Chancellor looked to decrease the tax burden on ordinary workers by increasing the personal allowance and IHT thresholds - but sought to recoup any giveaways in other areas.

I understand that employees of companies can make contributions to registered pension schemes of up to £40k annually which can be used to gain tax relief and rescue their personal allowance (i.e.


People will be able earn up to £10,500 tax free from April 2015, an increase of £500 in the personal allowance, Chan

The Lib Dems said over the weekend that raising the personal income tax allowance to £12,500 will be a key demand in any coalition talks after the 2015 election.


From April 2015, the government intends to introduce a tax break for married couples and civil partners.

Hi all.


Thanks for taking the time to read this.


I would like to extend my personal allowance for the tax year 12/13 for allowable expenses permitted by HMRC.


Right from the word go, personal tax took centre stage on Budget day thanks to the intense lobbying and debate around the personal allowance for income tax and the 50% top rate of income tax.


The new government has confirmed IR35 will be replaced as part of a shake-up of small business tax.