The tax year end is approaching and calls for a review of personal finances.
If you get child benefit and you or your partner has an income over £50,099 a year some or all of your child benefit will be taken back in extra income tax. It is called the Child Benefit High Income Charge. bThe rules are complicated and may seem illogical and unfair. The Charge The tax […]
The child benefit tax charge, introduced on 7 January, affects over one million families. A family with two children could see their annual spendable income drop by up to £1,752 p.a. in 2013/14; those with three children could lose £2,449 pa. At a time when prices are rising faster than incomes, it will be critical […]
For all the welter of announcements, the Chancellor is basically sticking to his Plan A, albeit the extended version revealed last autumn. The most interesting points to emerge from his speech were: A proposed further rise of £1,100 in the personal allowance to £9,205 for 2013/14. A proposed reduction in the 50% income tax rate […]