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ABOUT US

Who are we:

We are a professional and friendly firm of Chartered Certified Accountants, headed up by Clive Myers, and his team.

What do we do:

We work with small to medium sized small businesses and individuals to help them operate as tax efficiently and as profitably as possible.
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CONTACT US

Call Us

Call: 020 8418 8980

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Find Us

Suite 204A, East Wing, Sterling House, Langston Road, Loughton, Essex IG10 3TS
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  • Welcome to Myers & Co Accountants Ltd

    Welcome to Myers & Co Accountants Ltd

    Providing a professional and friendly accountancy service
  • Helping your business to be more profitable

    Helping your business to be more profitable

    We help small to medium sized businesses operate more tax efficiently
  • We offer a fixed price service

    We offer a fixed price service

    Our service is all inclusive with telephone, email and software support
  • Utilise our online system and save time

    Utilise our online system and save time

    Our online system will enable clients to approve documents securely online
  • Over 80% of our new business comes from referrals

    Over 80% of our new business comes from referrals

    We believe this is a testament to our customer service
  • Contact us today

    Contact us today

    Call or email us today and receive your free confidential consultation

2020/21

A personal allowance gives an individual an annual amount of income free from income tax.

Income above the personal allowances is subject to income tax.

The personal allowance will be reduced if an individual's 'adjusted net income' (ie. Adjusted net income is total taxable income less certain tax reliefs, for example: trading losses * donations made to charities through Gift Aid  *pension contributions.) is above £100,000. The allowance is reduced by £1 for every £2 of income above £100,000.

An individual born before 6 April 1935 may be entitled to a married couple's allowance but this is reduced if 'adjusted net income' is above the married couple's allowance income limit (see table below).

Marriage allowance - 10% of the personal allowance may be transferable between certain spouses where neither pays tax above the basic rate. The Marriage allowance is not available to couples entitled to the Married Couple's allowance.

Income tax personal allowances £
Personal Allowance 12,500
Marriage Allowance 1,250
Blind person's allowance 2,500
Married couple's allowance
Either partner born before 6 April 1935
 
- Maximum reduction in tax bill 907.50
- Minimum reduction in tax bill 351.10
Married couple's allowance income limit
Reduce married couple's allowance by £1 for every £2 of 'adjusted net income' above this limit
30,200


 

2019/20

A personal allowance gives an individual an annual amount of income free from income tax.

Income above the personal allowances is subject to income tax.

The personal allowance will be reduced if an individual's ' adjusted net income ' (ie. Adjusted net income is total taxable income less certain tax reliefs, for example: trading losses * donations made to charities through Gift Aid  *pension contributions.) is above £100,000. The allowance is reduced by £1 for every £2 of income above £100,000.

An individual born before 6 April 1935 may be entitled to a married couple's allowance but this is reduced if ' adjusted net income ' is above the married couple's allowance income limit (see table below).

Marriage allowance - 10% of the personal allowance may be transferable between certain spouses where neither pays tax above the basic rate. The Marriage allowance is not available to couples entitled to the Married Couple's allowance.

Income tax personal allowances £
Personal Allowance 12,500
Marriage Allowance 1,250
Blind person's allowance 2,450
Married couple's allowance
Either partner born before 6 April 1935
 
- Maximum reduction in tax bill 891.50
- Minimum reduction in tax bill 345.00
Married couple's allowance income limit
Reduce married couple's allowance by £1 for every £2 of ' adjusted net income ' above this limit
29,600