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NI CORPORATION TAX RATE

The NI corporation tax rate is scheduled to reduce to 12.5%, well below the standard rate for the rest of the UK.

Will it apply to you?

Contact us to be sure but click here for a brief summary of the conditions.

 

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PERSONAL SAVINGS ALLOWANCE

How much is the personal savings allowance?

Basic-rate (20%) taxpayers – will be able to earn £1,000 interest with no tax (so a max tax saving of £200 compared with before).
Higher-rate (40%) taxpayers – will be able to earn £500 interest with no tax (so a max tax saving of £200 compared with before).
Additional-rate (45%) taxpayers: £0 – they do not get an allowance.

Interest that is already tax-free isn’t included – so this includes ISA interest and Premium Bond ‘winnings’. Interest from these will still be paid tax-free, it just won’t count toward your PSA limit. So, if you get £500 in ISA interest, and you’re a basic-rate taxpayer, you’ll still have £1,000 of PSA to cover other interest.

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BMC ACCOUNTANTS SPONSOR EDENDORK GAC FUNDRAISER

BMC Accountants Ltd helped launch the Edendork GAC bike race from Kildare to Tyrone on Saturday 28th May 2016 in memory of their former club chairman Dessie Fox.  Dessie, who was brother in law of our managing director Brian McCullagh, was murdered in 1990 when he was robbed on his way to the racetrack with his float as a bookmaker.  Those responsible have never been caught and the fundraiser was used to appeal for new information on the attack.  Find more information on the RTE website here.