knowledge selling from home Allowances
Tax threshold rise welcomed
P
art-time homeworkers are set to benefit from a planned rise in the income tax threshold. As part of the new government’s coalition agreement, the Conservatives have committed to raise the income tax threshold to £10,000 by an unspecified date, starting with a £1,000 raise in 2011. The current personal allowance, upon which tax does not have to be paid, is £6,457.
Mike Russell of Holiday Experts said: “This is good for everyone, homeworkers included – we would all like an increase in our disposable income and this will help every- one, particularly those with lower incomes.”
Charles Duncombe, director of Hol- idaysplease, said: “We have quite a few staff who work part-time and make about £10,000. For a lot of homeworkers the reason they join is that homeworking offers a certain amount of flexi- bility, if for instance they have a young fam- ily and they are not the sole earner. So to get it tax free would be a great help to them.”
ttglive.com
However, Duncombe added a note of cau- tion for homeworkers earning considerably more than £10,000. He said: “I suspect it may be not such good news for our higher earning homeworkers earning £30-40,000 as what the government gives with one hand it tends to take away with the other.” And Russell advised homeworkers to wait for new chancellor George Osborne’s first budget on June 22 before celebrating: “The benefits will be offset by tax increases and cuts in the public sector to balance the country's books. We won’t know who will be affected and by how much until the budget. Whatever the outcome, customers will look for booking security and great value. Homeworkers have the flexibility to deliver outstanding value and provide great service and this will be impor- tant in the coming period of economic
uncertainty.”
THE ALTERNATIVE
Thealternative toincreasingly expensivebonds. Wehavebetter merchantacquirer ratesandanew solutionforcashflow headaches.
PROFESSIONAL HELP TO SET UP AND RUN YOUR INDEPENDENT TRAVEL BUSINESS
Contact Matt Skilton on 01483 545 783 or email him at
matt.skilton@
traveltrust.co.uk
36 11.06.2010
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