Tax Savers

Hillmans' Tax Savers

Hillmans Tax Savers Worle Weston-super-Mare
We take great pride in our ability to cut tax bills for our private and small business clients. 

Included below are 5 simple tax savers for small business owners and individuals:

1. Tax code

If you’re an employee or receive a pension make sure you check your tax code each year. You may be paying too much tax if you’re on the wrong code. 

2. Capital gains tax allowance

The tax-free allowance for capital gains in 2020/21 is £12,300. If you are married or in a civil partnership and own an asset jointly you can claim a double allowance of £24,600.

3. Annual losses

If you are self-employed and make a loss, you can carry forward the loss to the following year and offset them against any profits. 

4. Rent a room relief

If you rent a room in your own home to a lodger, up to £7,500 can be received tax-free under rent a room relief. 

5. Tax relief on donations

If you are a higher tax payer, you can claim back the difference between the basic and higher rate of income tax on any gift aid donations.

HIllmans Tax Savers Worle Weston-super-Mare
For more tax savers please contact us in our Worle, Weston-super-Mare office.
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