With the dust settling on the 2014 budget, here’s our summary of some of the tax saving actions you might like to have a look at over the coming months.
The summary includes the changes to:
- Income Tax personal allowances
- Starting rate for savings income
- The basic rate limit
- Tax allowances for married couples
- Childcare subsidy
- Share schemes
- Tax on residential properties worth more than £2m
- Second properties
- Premium Bonds
- Pensioner Bonds
- Seed Enterprise Investment Scheme (SEIS)
- Venture Capital Trusts (VCT)
- ISAs, Junior ISAs and Child Trust Funds
- Class 2 NICs for the Self-Employed
- Corporation Tax
- Annual Investment Allowance
That’s a pretty long list, so there are some changes in there that affect everyone. To see which will have the biggest impact on you, and how you might be able to reduce your tax bill, download the Pay Less Tax summary here.
If you would like to arrange a free meeting with a Liverpool accountant to discuss the Budget and how it affects you, either at our office or at your premises, please contact us on 0151 724 3960 or by email at [email protected].
Alternatively, you can use our website contact form.
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Added by Jon Davies