Capital Gains Tax (CGT) is a tax on the profit when you sell (or dispose of) an asset that’s increased in value. However, if you’ve suffered a loss on an investment, you can offset that loss against your gains to...
Receiving a tax refund can be a welcome financial boost, but many taxpayers don’t realise they may be entitled to more than they’re claiming. By understanding how the UK tax system works and what reliefs and allowances are available, you...
Paying less tax is something every taxpayer aspires to achieve. The good news is that the UK tax system provides several ways to reduce your tax bill legally by maximizing your Personal Allowance and making use of available reliefs and...
National Insurance Contributions (NICs) are an essential part of the UK tax system, helping to fund the State Pension, NHS, and other social security benefits. However, they also present opportunities for tax planning and savings. By understanding how NICs work...
It’s not uncommon for UK taxpayers to find themselves having overpaid tax to HMRC due to errors in tax codes, changes in employment, or other factors. Fortunately, HMRC allows taxpayers to claim a refund for any overpaid tax, but the...
Filing your UK tax return correctly is essential to ensuring you pay the right amount of tax and claim all the deductions and refunds to which you are entitled. With careful planning and a thorough understanding of the tax rules,...
Filing a UK tax return can feel overwhelming, especially when you have income from several sources. However, with the right approach, you can ensure that you stay compliant with HMRC requirements and avoid penalties. This guide walks you through the...
Investment income and dividends can provide a valuable source of earnings, but they also bring additional tax obligations in the UK. Whether you earn dividends from UK companies or receive interest from savings and investments, it’s essential to understand how...
Receiving an incorrect tax code can result in paying too much tax throughout the year, leaving you with less take-home pay than you’re entitled to. Fortunately, you can correct your tax code and claim a refund for any overpaid tax...
Claiming work-related expenses is one of the most effective ways to reduce your tax liability and potentially secure a bigger tax refund. However, many taxpayers are unaware of the full range of expenses they can claim or the correct procedures...
