5 ways to reduce your 2025 tax contribution

5 ways to reduce your 2025 tax contribution

Here are the most effective ways to reduce your 2025 tax contribution so government doesn't bleed you completely dry ...

New Tax Rule: Partnership firms will have to deduct TDS at the time of payment to partners, check rule here

The government had announced the inclusion of section 194T in the Income Tax Act in the Union Budget presented in July 2024. Under this section, it has become mandatory for partnership firms to deduct TDS on certain payments made to their partners. This rule is going to come into effect from April 1, 2025. After this, all partnership firms will have to deduct TDS on certain payments made to their partners. TDS has to be deducted at the time of p…

Time is running out to make personal pension contributions for the 2024/25 tax year - Rotherham Taylor Chartered Accountants

The end of the tax year is fast approaching, and if you are considering making personal pension contributions, it is important to plan ahead to avoid missing the deadline. To benefit from tax relief on your contributions for the 2024/25 tax year, your pension provider must receive your payment by 5 April 2025.  Why contribute before the deadline?  Contributing before the deadline can offer several benefits. First and foremost, you can make use o…

Thinking of boosting your pension? Act soon before the deadline!

If topping up your pension is on your to-do list, now is the time to take it seriously.   With the tax year ending on 5 April 2025, the clock is ticking, and missing the deadline could mean missing out on valuable tax savings.  The taxman gives a helping hand (but only if you are on time)  Pension contributions come with a major bonus: Income Tax relief. You put money in, and the Government adds a little (or a lot) extra, depending on how much y…

The clock is ticking on ISA, pension and tax allowances: Act now to beat the end of tax year deadline

Time is running out to make personal pension contributions for the 2024/25 tax year

The end of the tax year is fast approaching, and if you are considering making personal pension contributions, it is important to plan ahead to avoid missing the deadline. To benefit from tax relief on your contributions for the 2024/25 tax year, your pension provider must receive your payment by 5 April 2025.  Why contribute before the deadline?  Contributing before the deadline can offer several benefits. First and foremost, you can make use o…