Cheadle Chartered Accountants » Tax

Payments on account for 2008/2009 now due!

Alistair — Tue, 28 Jul 2009 15:08:49 +0000

The second instalment for the 2008/2009 tax liabiliy is due for payment by 31st July 2009. You should have recently received a payslip from HMRC along with an addressed envelope to send your payment however if you haven’t then your cheque should be made payable to HM Revenue & Customs and posted to:

HM Revenue & Customs, Accounts Office, Bradford, BD98 1YY.

Please remember to write your 10 digit unique tax reference number on the reverse of your cheque.

New tax year, new tax rates

Alistair — Wed, 08 Apr 2009 09:37:12 +0000

The new tax rate bandwidths are as follows:

Basic Rate (currently 20%) on all taxable income from £1 to £37400
Higher rate (currently 40%) on all taxable income over £37400
The income tax personal allowance has increased from £6035 to £6475 for 2009/2010.

Please note employee & employer national insurance is payable on income over £5715.

Employers, have you updated your employees tax codes?

Alistair — Wed, 08 Apr 2009 09:35:53 +0000

As from 6th April 2009 all L suffix tax codes should be increased by 44 points to 647L.