Monday, 27 April 2015

Raising of Tax free Personal Allowance



All tax payers will benefit from the raising of the tax free personal allowance. We knew it was climbing to 10,600 in  April 2015 but the Chancellor has revealed it will rise to 10,800 in April 2016 and £11,000 in April 2017.

From 6th April, married couples and civil partners who earn less than the £10,600 income tax personal allowance for 2015/16  will be  able to transfer £1060 of their allowance to their spouse, so long as the recipient doesn't pay higher rate (40%) or additional rate (45%)  tax. 

This also applies where the higher earner is self employed and it means that together a couple will pay less tax.

The plans were first announced in in 2013 and published in the Budget 2014. While they don't come into force until 6th April, from today couples can register their interest online via the Marriage allowance site.

Anyone registered will then be contacted by HMRC to ask whether they want to apply. People can register at any point in the tax year and will still receive the benefit of the allowance.

To be eligble, couples must both be born on or after 6th April 1935 and the recipient of the personal tax free allowance must have an annual income of between £10,601 and £42,385 during the 2015/16 tax year.

In order to receive the tax break, one person in a couple will apply online to transfer the allowance to their spouse or civil partner and HMRC will tell the recipient about the change to their tax code. 

If you need help, email andrewlogan@taxassist.co.uk and we will send you the link to get registered.

Monday, 17 November 2014

The Annual Bedfordshire Asian Business Association Awards 2014

Is there someone that you think deserves special recognition for their work on

promoting the values of the BABA, acting as a good role model, championing small

businesses, demonstrating good leadership, undertaking charitable work or

promoting community cohesion then we would like to hear from you.

The first annual BABA awards offer a unique opportunity to honour the work of

individuals and organisations within our community who share our values.

We are now opening nominations for our 2014 awards, so please put forward

individuals or organisations that deserve acknowledgement and recognition for their

contributions.

Closing date for nominations is 2nd November 2014

Man of the year

Woman of the year

Outstanding contribution to Charity

Champion of local business

Established business of the year

New business of the year

Supporting local businesses

Rural Business of the year

Promoting Asian culture

Excellence in sport (individual and organisation)

Promoting Asian values in Politics

Promoting community cohesion

Outstanding endeavour by Executive member (Two awards - open to executive

members only)

Chairman’s Special achievement award (No nominations please)

Please forward your nominations to me ( jas4bedford@hotmail.co.uk and copy Eric

on goldcrownestateagent@talk21.com by 2nd November 2014.

PLEASE SAVE 6th DECEMBER 2014 for ANNUAL DINNER DANCE AND

AWARDS EVENING.

Jagtar Singh OBE has been appointed Chair of Coventry and Warwickshire Partnership NHS trust.

It is with great delight and honour to announce that one of our members, Jagtar Singh OBE has been appointed Chair of Coventry and Warwickshire Partnership NHS trust. On behalf of the Association and its members I congratulate him and wish him well for the future. I hope that he will continue to support us as he has done so in the past.

Regards

Jas

Chairman

Bedfordshire Asian Business Association