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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.
Online sales platforms begin to report seller income to HMRC!
From 1st January 2024, HMRC implemented new rules requiring online marketplaces to collect all seller information and report seller income.
TBA
Jul 4, 20245 min read
Starting from 2025, Airbnb hosts in EU countries will need to pay VAT! What about UK hosts?
The EU announced that starting from 2025, users of third-party short-term rental platforms need to pay VAT on rental income received.
TBA
Jun 26, 20244 min read
Living in the UK- Have you experienced hard water?
‘Hard water’ contains a large amount of minerals, such as calcium and magnesium, which form a thin film on the hair.
TBA
Jun 12, 20243 min read
What is a ‘salary sacrifice’ pension scheme?
<p>What is a ‘salary sacrifice’ pension scheme? Have you heard of ‘salary sacrifice’ pensions? This type of occupational pension is aimed at helping individuals save on tax contributions whilst also contributing to their pension. Let’s find out more! 1. What is ‘salary sacrifice’? A salary sacrifice arrangement equates to tax savings for employees. Employees agree […]</p>
TBA
Jun 7, 20242 min read
Small mistakes cost British employees £5.8 million in overpaid taxes – make sure you check your tax code!
A recent study by Canada Life revealed that due tax code errors, UK employees have so far overpaid approximately £5.8 billion in taxes.
TBA
Jun 5, 20242 min read
What is a P45, and why do you get one when leaving your job?
If you’ve been employed by one than one employer in the UK, you would have received a P45 document after the end of your previous jobs.
TBA
May 24, 20245 min read
How can married couples make use of inheritance tax relief for their children?
In this day and age, more and more people are choosing not to get married. However, in terms of tax, married couples can enjoy benefits.
TBA
May 22, 20245 min read
Should restaurants scrap automatic tipping?
The well-known restaurant chain Ping Pong has replaced its 12.5% service charge with a new optional 15% ‘brand’ charge.
TBA
May 8, 20243 min read
Do I need to pay tax on the interest I earn?
Many savers are currently benefiting from elevated interest rates compared to the record lows seen in previous years.
TBA
Apr 26, 20244 min read
Turn your £1 investment into a £1 million tax-free prize!
You’d be hard pressed to find someone who hasn’t complained about how expensive it is to live in the UK, with the cost of living crisis.
TBA
Apr 10, 20245 min read
Getting ready for retirement- obtaining credits for National Insurance
Did you know that you can also accumulate NI credits to help build up the number of years so that you can receive the full State Pension?
TBA
Apr 5, 20244 min read
A shocking £100 million Council Tax bill for Prince Harry?
After the passing of the Queen, Prince Harry’s decision to pay respects to his late mother sparked numerous controversies.
TBA
Mar 27, 20244 min read
A record-breaking £195 million lottery prize won tax-free?
In the UK around 45 million people regularly play the lottery. The vast majority of them have never won anything.
TBA
Mar 22, 20245 min read
The British rental market is booming. What should landlords be aware of?
The British property market has always been favoured by investors both in the UK and across the world
TBA
Mar 15, 20246 min read
Spring Budget 2024 – What’s New?
On the 6th March 2024, Jeremy Hunt announced the new Spring Budget, which outlines the Government’s fiscal policy for the new financial year
TBA
Mar 8, 20243 min read
Must-Know Tax Refund Tips!
Did you know that you could reduce the tax you pay on these expenses? So, what sort of expenses qualify for tax relief?
TBA
Feb 23, 20245 min read
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