Insights

We previously discussed how National Insurance credits could be purchased to supplement your State Pension. 

When it comes to inheritance tax, setting up a trust is often viewed as an effective way to reduce taxes.

Retirement may not be on everyone’s mind, but it’s something that many more people are thinking about now. 

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.

In the UK, all football players who sign contracts with clubs are considered employees, so players must pay taxes directly to the HMRC.

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.

If you inherit an estate from family or relatives, you are required to pay inheritance tax to HMRC.

Did you know that opening a supermarket can indeed yield unexpected tax benefits?

Every financial year, you’ll receive a new Individual Savings Account (ISA) allowance of £20,000 which you can save tax-free.

Some may wonder – if I have an urgent need for the money, can I withdraw everything from my pension pot at once?

Did you know that the average person will switch jobs 11 times during their career, and accumulate 11 different pensions along the way?

From 1st January 2024, HMRC implemented new rules requiring online marketplaces to collect all seller information and report seller income.

The EU announced that starting from 2025, users of third-party short-term rental platforms need to pay VAT on rental income received.

Recently, many large companies in the UK have declared bankruptcy. It was only last year that the major UK retailer Wilko went bankrupt.

The Prime Minister Rishi Sunak announced that if the Conservative Party wins the election, mandatory national service will be reintroduced.

<p>Underreporting of £320,000 in taxes results in business licence being revoked for 8 years!  it&#8217;s crucial to remember that no matter what business you run, you need to fully comply with your tax obligations – they are applied very strictly! Recently, a High Court judge in the UK imposed severe penalties on a restaurant owner [&hellip;]</p>

<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 &#8216;salary sacrifice&#8217;? A salary sacrifice arrangement equates to tax savings for employees. Employees agree [&hellip;]</p>

A recent study by Canada Life revealed that due tax code errors, UK employees have so far overpaid approximately £5.8 billion in taxes.

Companies House can now utilise their new powers to inspect and supervise company registration names. 

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.