From the 2010-11 tax year the Personal Allowance reduces where the income is above £100, 000 - by £1 for every £2 of income above the £100,000 limit. This reduction applies irrespective of age.
Book Keepers Count
We pride ourselves on bookkeeping services that are flexible, reliable and accurate - we provide bookkeeping and financial support services in and around the Bristol and Bath areas.
We can demonstrate Sage Accounting & Payroll software and put you in touch with local re-sellers. We always work closely with our clients Accountants to ensure that their expectations are being met. We suggest that you speak to your Accountant if you are considering new software.
An increase in business can cause a strain on even the most organised person and the financial tasks often receive lower priority than they deserve. We can help you during busy periods so that you have all the information you need to ensure that your business continues to profit as you expand.
We run clients payrolls on site for up to 50 employees. However, from our offices using QTAC, INLAND REVENUE accredited software, we process smaller payroll for our clients, even if you only have ONE EMPLOYEE.
Throw away the tax tables and save yourself time and money by speaking to us now about your payroll.
These allowances reduce where the income is above the income limit for age-related allowances by £1 for every £2 of income above the limit. For the 2009-10 they will never be less than the basic Personal Allowance or minimum amount of Married Couple's Allowance. However, from the 2010-11 tax year the Personal Allowance for people aged 65 to 74 and 75 and over can be reduced below the basic Personal Allowance where the income is above £100,000.
Tax relief for the Married Couple's Allowance is given at the rate of 10 per cent.
In the 2009-10 tax year all Married Couple's Allowance claimants in this category became 75 at some point during the year and therefore entitled to the higher amount of the allowance - for those aged 75 and over.