|
TAX INFORMATION |
 |
|
|
2010/11 |
2011/12 |
|
|
£ |
£ |
|
Tax
allowances |
Personal |
6,475 |
7,475
|
|
Extra from
65-75 |
3,015 |
2,515
|
|
(goes up a bit
if over 75 and extra drops out on a £ for £ basis and
completely if income over) |
22,900 |
24,000 |
|
|
|
Capital Gains
Tax tax free sum |
10,100 |
10,100 |
|
Rate |
18% |
18% |
|
|
|
National
insurance |
Normally
employed Class 1 from |
5,715
|
7,225 |
|
Employees |
11% |
12% |
|
Employers |
12.8% |
13.8% |
|
|
|
Self Employed |
|
|
|
Class 2 if
profits over |
5,075
|
5,304
|
|
Flat rate per
week |
2.40 |
2.50
|
|
Class 4 |
8% from 5,715
to 43,875 |
9% from 7,226
to 42,475 |
|
|
|
Inheritance
Tax |
40% after |
325,000 |
325,000
|
|
Relief
effectively doubled (in most cases) in October 2007 |
650,000 |
650,000 |
|
|
|
|
|
Important dates |
The day tax
returns must be in by - 31st January! |
|
|
|
|
|
Three months
after you have started self employment you must notify
the Revenue - or £100 fine! |
|
|
|
Limited
companies now have to file their accounts at Companies
House within 9 months of their year end or a £150 –
£1500 fine! |
|
|
|
VAT
Registration |
Currently
£73,000. |
|
|
|
|
|
Audit limit |
Most companies
with a turnover of under £6,500,000 per annum do not
need an audit |
|
|
Sevrey Accounting Services
Limited is a Westerham based company with dedicated and highly
skilled accountants. We offer visits to your house and/or
business which means that we are available outside the usual
9am – 5.30pm hours! |
|
|
|
We are committed to
providing added value to our clients or clients business and
at Sevrey Accounting services Ltd emphasis is placed on
providing a first class service tailored to the individual
needs of each client. |
|
|
|
Below are the
services we offer within the Practice: |
|
|
|
Where possible
we will agree fees on a fixed price basis. In other cases we
are happy to explain our charges before commencing the work. |
|
