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Home icon For all your accountancy needs call us Truro. 01872 272047 | Falmouth. 01326 375587

What our clients say...

The support Lang Bennetts have given us over the last 13 years has helped our business in a number of ways.

"They have also helped with new acquisitions that has allowed us to grow and expand our branch network across Cornwall, Devon, Dorset, Bristol, Somerset and Wiltshire."

Mark Mitchell, Cornwall Glass & Glazing

Coded out debt

If you are employed, HMRC can currently collect tax debts of up to £3,000 using your PAYE coding. From 2015/16, this coding limit will be on a sliding scale. The limit will remain at £3,000 if you earn less than £30,000, but it will increase in £2,000 steps for each additional £10,000 band of earnings. A maximum of £17,000 will apply where earnings are £90,000 or more.

For example, where earnings are between £50,000 and £59,999, the limit will be £9,000. The increased limits will apply if you have self– assessment or class 2 NIC debts, and to overpayments of tax credit.

In this edition

Advisory fuel rates reflect fall in oil prices
Coded out debt
Restrictive covenants on employment contracts
Summer 2015
The mansion tax debate continues
VAT and new rules for digital services

This newsletter is for general information only and is not intended to be advice to any specific person. You are recommended to seek competent professional advice before taking or refraining from taking any action on the basis of the contents of this publication. The newsletter represents our understanding of law and HM Revenue & Customs practice as at 5 January 2015.