Tax Rebate Services are experts in tax returns, accountancy, claiming tax back for customers and discovering ways in which people can claim a tax refund.
LONDON, UNITED KINGDOM, April 28, 2017 /EINPresswire.com/ — Tax Rebate Services are experts in tax returns, accountancy, claiming tax back for customers and discovering ways in which people can claim a tax refund.
As we settle in to the new tax year, Tax Rebate Services have revealed six ways in which you could benefit from tax changes in the tax year 2017/18.
To discover more tax benefits and to stay up to date with tax refunds you’re owed, sign up to the newsletter over at Tax Rebate Services.
Here are changes made this year that you can benefit from:
1. Income Tax
Your personal allowance has changed which means you can now earn a generous £11,500 before being taxed. This is a 4% increase on last year. If you pay the higher tax rate of 40% you will be pleased to learn that it’s increased to £45,000 from £43,000
Isas are a great way to save for a deposit on a house or for a major event such as a holiday or home improvement. You can now save £20,000 per year which is quite the leap of almost 25%. Last year, you could save £15,240. This is welcome tax relief for those looking to save for what could be, life changing times such as buying a house or enjoying a trip of a lifetime.
3. Marriage Allowance
This is a small jump compared to the previous too, but you can now transfer £1150 (previously £1100) to your partner.
4. Inheritance Tax
A couple could now benefit from £850,000 of tax free money when passing a home onto a family member. The allowance is now £425,000 each. This is a huge jump of £100,000 and one many will benefit from.
5. Extra Income
If you make money from car boot sales, AirBnB, renting your home, you can now make £1000 before tax.
6. Capital Gains Tax
Capital Gains Tax has changed, it’s not a massive leap, but it’s an increase all the same. It has been raised by £300 this year.
If you think you’re owed a tax rebate on previous earnings, try out the tax calculators at Tax Rebate Services. You could be owed more than you think!
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Source: EIN Presswire