At Accounting Concepts we are not just interested in assisting companies and the self-employed. In our experience, many PAYE employees would benefit from spending even just half an hour with a professional advisor to review their personal circumstances and ensure they are availing of all tax reliefs and allowances open to them. Examples include:

• The home carers allowance
• Medical expenses and non routine dental
• College fees paid for a son or daughter
• Additional income tax credits for a one parent family
• The dependent relative income tax credit
• Trade union subscription income tax credit
• The employment of a carer for an incapacitated person income tax credit
• Tax-free termination payments
• Various reliefs/exemptions available if work involves foreign travel
• Interest Relief for investment in a company

In addition we can review or show you how to review documents like your payslips and P60s to ensure your employer has deducted the appropriate amount of tax from your salary. Mistakes can be more common than you may imagine. The use of incorrect tax credits and allowances and the inappropriate processing of tax deductions on a Week One rather than a cumulative basis are just two things that can go wrong in the payroll process resulting in you paying more tax than you should.

If you feel that any of this may be of benefit to you, Accounting Concepts are ready to speak to you and happy to advise.