Your tax code is a crucial part of how HMRC determines how much tax you pay on your income. If your tax code is wrong, you could end up paying too much tax or too little—and in either case, it’s...
Value Added Tax (VAT) is a key component of the UK’s tax system, affecting businesses of all sizes. Whether you’re a sole trader, small business owner, or running a large enterprise, understanding how VAT works is essential for compliance and...
The Marriage Allowance is a valuable tax break that can help couples save money by transferring a portion of the Personal Allowance from one spouse or civil partner to the other. However, many eligible couples miss out on this benefit...
National Insurance Contributions (NICs) are a crucial part of the UK tax system, funding essential benefits like the State Pension, Jobseeker’s Allowance, and other social security benefits. Understanding how NICs work, how to maximise your entitlements, and how to avoid...
Marriage Allowance is a valuable tax break for couples in the UK that can help reduce their overall tax bill. It allows one partner to transfer a portion of their unused Personal Allowance to their spouse or civil partner, potentially...
Gifting money or assets to your loved ones can be a generous way to share your wealth and provide support during their lifetime. In the UK, certain gifts are exempt from Inheritance Tax (IHT) or can be given tax-free under...
Making Tax Digital (MTD) represents one of the most significant changes to the UK tax system in recent years. Designed to modernise the way businesses manage their tax affairs, MTD aims to make the process more efficient, accurate, and easier...
The IR35 legislation, also known as the “off-payroll working rules,” has long been a critical consideration for UK contractors and employers. Recent reforms have shifted responsibilities and increased the scrutiny around employment status in the private sector. Understanding these changes...
In an increasingly globalised world, it’s common for UK residents to have income and investments abroad. Whether it’s rental income from a property overseas, dividends from foreign shares, or earnings from working abroad, understanding the UK’s tax treatment of foreign...
Inheritance Tax (IHT) is a significant consideration for families looking to pass on their wealth to future generations. With careful planning, it’s possible to reduce or even eliminate your IHT liability, ensuring that more of your estate goes to your...
