From 1 January 2016, the Earned Income tax credit can be claimed by self-employed individuals and proprietary directors who are ineligible for the PAYE Employee tax credit. This tax credit is calculated at 20% of an individual’s earned income (excluding earned income that is taken into account for the PAYE Employee tax credit). The maximum…
As a self employed person you can claim allowable business expenses for: vehicle insurance repairs and servicing fuel parking hire charges vehicle licence fees breakdown cover train, bus, air and taxi fares hotel rooms meals on overnight business trips You can’t claim for: non-business driving or travel costs fines travel between home and work Any queries…
Dependent Relative Tax Credit This credit is granted to if you pay tax and maintain, at your own expense, any person who comes within any of the following categories: A relative, including a relative of your spouse or civil partner, who is unable to maintain himself or herself as a result of old age or…
