Operating as a sole trader in the UK brings both flexibility and responsibility. One of the key responsibilities is filing an annual Self-Assessment tax return to report your income and pay the correct amount of tax and National Insurance. While...
Selling a property in the UK can have significant tax implications, particularly when it comes to Capital Gains Tax (CGT). Whether you’ve sold a second home, a buy-to-let property, or land, it’s crucial to understand how to calculate, report, and...
For UK taxpayers who earn above £150,000 (for tax years up to 2022/23) or £125,140 (from 2023/24 onwards), managing your tax obligations becomes more complex due to the Additional Rate tax band. This detailed guide explains how to file a...
Filing a Self-Assessment tax return in the UK can seem confusing, especially if you’re unsure whether it’s required for your circumstances. While many people pay tax automatically through PAYE, others must report their income and pay tax directly to HMRC....
Dividends are a popular way for directors and shareholders of UK companies to receive income. While dividends can be a tax-efficient method of extracting profits, understanding how they are taxed is essential for effective financial planning. This comprehensive guide explains...
Dividends are a popular way for investors to receive income from shares in UK companies. However, like most income, they can be subject to tax. The UK government offers a Dividend Allowance to make it easier for investors to earn...
With the UK’s increasingly globalised economy, it’s not uncommon for individuals to have income from sources outside the UK—whether it’s from overseas employment, rental income, interest, dividends, or capital gains. However, many taxpayers are unsure how to declare foreign income...
Corporation Tax is one of the most important taxes that UK limited companies must navigate. Understanding how it works is vital for financial planning, compliance, and ensuring your company doesn’t pay more tax than necessary. This comprehensive guide will take...
If you’re an employee in the UK, you may be able to claim tax relief on certain work-related expenses you’ve paid for out of your own pocket. These expenses can reduce your overall tax bill by deducting allowable costs from...
If you’re a professional in the UK, you might be paying subscriptions or membership fees to certain professional bodies or trade unions. The good news is that HMRC allows tax relief on many of these payments, reducing your taxable income...
