Tax summaries on the way

Millions of taxpayers will receive a new personal tax summary from October 2014.

The tax summary will show 24 million people how their personal income tax and national insurance contributions (NICs) have been calculated for the previous tax year and give an indication of how their taxes have been spent by the government.

The summary will also show any NICs paid by employers, to give individual taxpayers a clearer indication of the total NICs paid as a result of their employment.

Around 16 million tax summaries will be posted to PAYE taxpayers between October and December 2014. Individuals in self assessment will receive their tax summary online.

The information in the tax summary will relate to the tax year ended 5 April 2014.

Our tax department offers a complete range of taxation services to both corporate and private clients – from completion of individual tax returns to the preparation and execution of complex tax planning strategies – all geared to minimising the tax burden now and in the future.

Contact one of our specialists for more information.

Link: Information on tax summaries

Posted in News.