Newspaper columnist Jill Kerby advises a self-employed reader he will not be eligible to offset a loss on the disposal of a foreign property against the tax generated on income from his web-based business.
No more excuses. No more procrastination. Come in Mr Taxpayer your time is up.
That’s the key message from both The Sunday Business Post and The Sunday Times, both of which devote copious space to the upcoming October 31 and November 15 tax deadlines.
Where The Sunday Business Post employs the trick approach to the Halloween deadline, over at the Sunday Times they prefer to concentrate on the treat. It appears the annual deadline could become a cause for celebration, rather than fear of the boogieman.
The looming tax deadline presents the final opportunity to offset a pension contribution against tax for 2010. Relief is granted at the taxpayer’s marginal rate of income tax subject to an overall earnings cap and a sliding-scale of contributions determined by age.
Our international paymasters will deign to allow the Government maintain income tax rates and welfare payments at their current levels despite reports to the contrary, according to The Sunday Business Post.