Specialist Dental Accountants for over 28 years - Call 020 8346 0391
|
Specialist Dental Accountants for over 28 years - Call 020 8346 0391 |
|
He (Mac) has helped me as my practice has expanded from single-handed to a six surgery/8 dentist practice. |
T24 - More people paying higher rate tax. The Institute for Fiscal Studies expects over 4 million taxpayers to pay higher rate tax in five years time, which is double what it was in 1997. This tax year, approximately 1 in 9 people pay higher rate tax. One of the reasons for the increase is that our incomes are rising faster than the tax bands and allowances, which tend to go up with inflation. Inheritance tax also hasn’t kept up with rising prices. The threshold for this tax will rise to around £263,000 next tax year, but had it kept up with rocketing house prices, it would now be around £400,000! What’s more, the legal loophole used by many to reduce IHT bills is to be closed. If you have created a trust in order to leave your home to your children, but continue to live in your property, you could be hit with a yearly income tax bill. |
|
We take great pride in our service, and would be delighted to invite you for a free 1 hour, no obligation meeting at our comfortable offices. Simply call us on 020 8346 0391 to arrange a mutually convenient time. This web-site was last updated on 29/07/2008 Specialist Dental Accountants for over 27 years. Copyright © 2003-2008 Mac Kotecha & Company. All rights Reserved. The information on this site is for general guidance only. It is essential to take professional advice on specific issues about their impact on any individual or entity. No liability can be accepted for any errors or omission or for any person acting or refraining from acting on the information provided on this site. We can still help you if you're not a dentist. Please click here
|
