Become a client

client icon

Becoming a client couldn’t be easier!

Just pick up the phone and ask for Mark Smith – call 01235 766162 and arrange an initial meeting, which will be free of charge and completely without obligation.


Or send us an email. We look forward to hearing from you...

Changes to the taxation of saving income

There are significant changes to the income tax rules from 6 April 2016 which affect the taxation of savings income.

From 6 April 2016, if you are a basic taxpayer you may be able to receive up to £1,000 in savings income tax free. Higher rate taxpayers will be able to receive up to £500.

Savings income includes the following:

  • interest from bank and building societies accounts
  • interest from credit union or National Savings and Investment accounts
  • income from government or company bonds
  • interest distributions from authorised unit trusts
  • most types of purchased life annuity payments.

As a result of this from 6 April 2016 interest will be paid gross rather than net which is the current position for most interest paid to individuals. Net payments are received after deduction of the basic rate of tax of 20%. Interest from ISAs is not included in your Savings Allowance (SA) because it is already tax free.

No action is required to claim the allowance. If the amount of savings income you receive is higher than the allowance, banks and building societies will provide details to HMRC and they will amend your tax code to collect any tax due. If you complete a Self Assessment tax return you should carry on doing this as normal.

If you have any queries on the changes to income tax please do get in touch.

Internet link: GOV.UK

08 May 2018

Changing priorities at HMRC

HMRC has shared a statement about how they are prioritising change in the department and as a result some parts of MTD will be delayed.

08 May 2018

GDPR compliance deadline looms

The Federation of Small Businesses (FSB) is warning small and medium-sized enterprises that time is running out for them to prepare.

08 May 2018

Tax reliefs following the Scottish Budget

The Government has stated that it will ensure that tax reliefs continue to work as they were intended as the new Scottish Income Tax rates and bands are introduced.