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Individual Income Tax
The UK personal income tax system is progressive, meaning the tax rate increases as income rises. For the 2024/25 tax year, individuals have a Personal Allowance of £12,570, meaning income up to this amount is tax-free.
Non-domicile tax regime set to be abolished
With the announcement of the Autumn Budget, several tax increases have caused widespread confusion.
TBA
Jan 153 min read
Navigating ‘tax traps’ in the UK – a guide for high earners (II)
In our previous reports, we shared that over 500,000 UK taxpayers have fallen into the 60% tax trap, an increase from last year.
TBA
Nov 8, 20243 min read
Minimum Wage Increases, Second Home Stamp Duty Increases, and Capital Gains Tax Increases! What’s new in the Autumn Budget 2024?
The Chancellor of the Exchequer Rachel Reeves announced Labour’s first Autumn Budget since taking office earlier this y
TBA
Nov 1, 20245 min read
Company directors – choosing between salary and dividends (II)
Last time, we explored the advantages and disadvantages of receiving a salary versus dividends from your company.
TBA
Oct 30, 20242 min read
Is the UK about to raise taxes? Here are some things for you to consider before the Budget
At the end of this month, the Labour government will announce its first autumn budget after taking office.
TBA
Oct 18, 20244 min read
How does UK tax residency work, and do I need to pay tax on overseas income?
We often encounter clients who are confused about their tax obligations, particularly when it comes to income earned overseas.
TBA
Oct 4, 20244 min read
Reminder to all landlords – rental income is taxable!
Today, we would like to issue an important reminder to landlords, as well as to anyone considering entering the rental market.
TBA
Sep 27, 20243 min read
Property vacant? Important issues for landlords to consider
There are ways to reduce your tax liability by deducting certain expenses that are deemed “qualified” by tax authorities.
TBA
Sep 25, 20243 min read
Part-time work in the UK – is extra income taxed?
Will HMRC know if I have secretly earned extra money? How does HMRC track your income? How should I manage my additional income?
TBA
Sep 13, 20242 min read
Why is HMRC interested in overseas income?
We recently handled a case which we’d like to share with you. It’s regarding the investigation of an individual’s overseas income.
TBA
Sep 11, 20243 min read
HMRC fines takeaway shops in tax evasion crackdown
HMRC recently launched a tax evasion crackdown on takeaway shops which were alleged to have altered their sales figures!
TBA
Sep 6, 20244 min read
Selling your residence? Don’t forget to save on tax!
In the UK, if you sell a property and make a capital gain, you need to pay Capital Gains Tax (CGT).
TBA
Sep 4, 20245 min read
Could you benefit from Pension Credit?
We previously discussed how National Insurance credits could be purchased to supplement your State Pension.
TBA
Aug 9, 20243 min read
Can setting up a trust help reduce your inheritance tax bill?
When it comes to inheritance tax, setting up a trust is often viewed as an effective way to reduce taxes.
TBA
Aug 7, 20244 min read
What can we expect from the new Labour government?
Now that the dust has settled, it’s time to take a look at some of the major policies set to be implemented by the new government.
TBA
Jul 31, 20242 min read
How much tax do footballers pay?
In the UK, all football players who sign contracts with clubs are considered employees, so players must pay taxes directly to the HMRC.
TBA
Jul 26, 20243 min read
Do you need to pay tax on overseas income? Changes are coming in April 2025!
Under the current rules, if you are a UK tax resident and domiciled in the UK, you must pay taxes on your global income and gains.
TBA
Jul 24, 20245 min read
Wondering how to save on inheritance tax?
If you inherit an estate from family or relatives, you are required to pay inheritance tax to HMRC.
TBA
Jul 19, 20245 min read
Save up to £20,000 tax-free with an ISA – 20 savings tips to get you started!
Every financial year, you’ll receive a new Individual Savings Account (ISA) allowance of £20,000 which you can save tax-free.
TBA
Jul 12, 20245 min read
Recovering a 'Lost' Pension
Did you know that the average person will switch jobs 11 times during their career, and accumulate 11 different pensions along the way?
TBA
Jul 5, 20244 min read
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