Personal tax highlights ….
•Weathly pension savers targeted with £10k reduction in annual allowance for tax to £40,000 in 2014-15
•Lifetime allowance for tax relief on pensions savings will be reduced from £1.5m to £1.25m.
•Personal allowances raised an extra £235 to £9,440 in 2013-14 •basic rate limit will be set at £32,010
•Higher rate threshold increases will be capped at 1% in 2014-15 and 2015-16
•Phasing out of age-related allowances confirmed •Child Benefit rates will be frozen in 2013-14 and will increase by just 1% in the two following years.
KWA Tax Returns Online
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