Archive | Tax

UK resident or non-resident? What’s the difference?

From 6 April 2012, individuals needing to know if they are UK resident for tax purposes might be able to take a Statutory Residence Test, recently proposed by the Government. The proposed test is divided into three categories – One, Two and Three. Part one is used to determine if you are resident anywhere outside […]

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Tax Relief on Donations to Charity

UK taxpayers can receive tax relief on donations they make to UK registered charities through Gift Aid. Charities are able to claim from HM Revenue & Customs, the basic rate of 20% tax on any donation you make to them. For example, if you want to donate £1,000 to charity, you only need to donate […]

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Domicile Rules

The government has proposed reforming the rules concerning the taxation of UK resident non-domiciled individuals from April 2012. Since April 2008 a non-UK domiciled individual who has been resident in the UK for 7 of the last 9 years and who claims the benefit of the remittance basis of taxation has had to pay the […]

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National Insurance Contributions

The rates for national insurance contributions went up by 1% from 6 April 2011. For employees salaries are now charged at 12% and 2% instead of 11% and 1% and self employed profits are charged at 9% and 2% instead of 8% and 1%. The rate for employer contributions on salaries and benefits increased from […]

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Tax Relief on Pension Contributions – Ready for the Changes?

The Government has announced that the limits for tax relief on pension contributions will be reduced significantly: the annual allowance will be reduced from £255,000 to £50,000 (from April 2011); and the lifetime allowance will be reduced from £1.8 million to £1.5 million (from April 2012). These reductions replace the complex changes for higher earners […]

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