If you are employed and/or a director there are a number of expenses which can be deducted against your income or against the income of your company before tax is charged. Employees can claim for the costs of travelling to
Contributions to a pension scheme
Pension contributions receive tax relief and for higher rate taxpayers the relief obtained can up to 45%. The annual allowance is normally £40,000 but if you have started making use of the fexible benefits from your pension the limit drops
Make use of personal allowances
The level of your personal allowance changes each year. In the current tax year 19-20 the personal allowance is £12,500. However The personal allowance is reduced by £1 for every £2 of income above £100,000. Blind people can claim an
Business Structure
For those of you that run your own business consider your business structure. Many businesses start out on a sole trader basis as it is straightforward and simple, but then as profits grow it may become more beneficial for commercial