Keeping You In The Loop

With Our Latest News And Blog Posts

We'll look to keep everyone up to date with all general goings on here at Spirare as well as offer our take on
industry related news

Married or in a Civil Partnership? The New Marriage Allowance Tax Break Registration has Opened

This week the government has opened registration for the new Marriage Allowance, a tax break for married couples helping them to save up to £212 in tax per year.

A mere week after Valentines Day and David Cameron has released this policy based on the ‘valuing commitment’ of marriage to society. Perhaps this has encouraged men and women around the UK to propose based on the prospect of a potential tax break?

From April 2015, the allowance means that a spouse or civil partner who doesn’t pay tax - therefore not earning at all or is earning below the basic rate threshold (£10,600) – can transfer up to £1,060 of their personal tax free allowance to a spouse or civil partner, as long as the recipient of the of the transfer doesn’t pay more than the basic rate of income tax.

Therefore this is not relevant for those who are married/in a civil partnership with higher rate tax payers, as they will not be applicable.

 

Read more ...

Fancy a festive rave for your employees? Christmas Parties and the Secret Santa named Tax Relief

As the festive season approaches, many businesses are looking forward to their Christmas parties and thinking about gifts for employees.

However, beware of the Christmas tax relief trap- only certain gifts are allowable from a tax relief aspect, and Christmas parties have certain rules and regulations to obey if tax relief is to be achieved.

Read more ...