Peter Gammage
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RE: Zero rate of VAT for solar panel products
I have an existing solar array on a domestic property that I'm wanting to expand by adding additional panels. The installation will be carried out by a VAT registered installer who will supply and install the new panels. I have been advised by the installer that this expansion is not zero VAT rated Is expanding an existing system zero VAT rated when the supply of ESM's and installation work is carried out by a VAT registered installer? -
Is tax free cash from your pension classed as income
I have savings and understand that I have a personal savings allowance of £1,000 which allows me to earn up to £1,000 interest per year tax free. However I believe that if your income is under £12,570 that you have an additional savings allowance of £5,000 (see https://www.gov.uk/apply-tax-free-interest-on-savings), and this extra allowance drops by £1 for every £1 you earn over £12,570 Is Tax Free Cash taken from a pension considered income? Specifically, if I draw down £12,570 from my pension as income and I also take £2,000 as Tax Free Cash from my pension is my income £12,570 (so my savings allowance £6,000) or is my income £14,570 (so my savings allowance is £4,000)