The 2014/15 tax free allowance is £10,000 and not £10,500

Due to the amount of queries received and apparent confusion, I'd like to clarify that the budget announcement of a £10,500 tax free allowance doesn't come into effect until April 6th 2015.

This article was published in our News section on 21/03/2014.

Some Guides you may be interested in

What exactly does the removal of lettings tax relief mean for landlords? 04/11/19The latest attack on landlords was during the October 2018 Budget, with the focus this time on the sale of their investment property.
Landlords - Should you incorporate or not? 04/11/19Michael Wright, our Property Tax Expert, from RITA4Rent, takes a run through the decision making process to help you weigh up what the appropriate course of action is for you.
AirBnb vs long-term-rentals 04/11/19For the holiday maker & professionals alike, it’s safe to say that short-term let platforms - such as AirBnb, Flipkey, or Homeaway - have been a bit of a game changer.
What changes to buy-to-let mortgage interest tax relief for landlords? 04/11/19Section 24 and the restriction in mortgage interiest and finance costs have been a hot topic for landlords in recent months. Let's take an indepth look at the changes being phased in by HMRC
What do you do if you receive a letter from the HMRC Let Property Campaign? 04/11/19How do you feel now you have received a letter from HMRC’s Let Property Campaign office? Worried?
Valid expenses you could claim as a landlord 04/11/19Are you a Landlord? This article aims to help you make the most of your rental income.
Capital Gains Tax on Rental Property (Buy-to-let) 2019 04/11/19Our latest tax feature, this time focusing on Capital Gains Tax, exploring the basics and full of tips to reduce your CGT liability.
Avoid paying too much tax on rental income 04/11/19As property tax advisers, one of the most common questions we get asked is how you can avoid paying tax on my rental income.
Buy-to-let Landlords - Most Common Tax Mistakes 04/11/19With campaign letters and enquiries on the rise, what is it that HMRC are looking for? Here’s an overview of the main categories of mistakes.
Landlord Tax Guide 04/11/19Our detailed Landlord Tax Guide, where our property tax experts tell you what you can claim in expenses along with a comprehensive insight into HMRC tax rules and recent changes.

ListenToTaxman.com

UK PAYE Tax Calculator / Salary Calculator

The 2014/15 tax free allowance is £10,000 and not £10,500

The 2014/15 tax free allowance is £10,000 and not £10,500

Due to the amount of queries received and apparent confusion, I'd like to clarify that the budget announcement of a £10,500 tax free allowance doesn't come into effect until April 6th 2015.

This article was published in our News section on 21/03/2014.

Some Guides you may be interested in

More from our News section