General

When buying a property in the UK, stamp duty is a crucial consideration as it can add thousands to the purchase price.

Stamp duty land tax SDLT is the tax imposed on buyers for the properties or pieces of land they bought in England or Northern Ireland.

Contents The UK income tax calculator is available in various versions according to the taxpayers’ employment status—employed, self employed, or a combination of both. For

Contents Is a redundancy payment tax free? Whether you are made redundant by your employer or volunteered for it, this guide will give you clarity,

Contents Learn about the tax threshold 2024 UK in this guide, from your primary taxes to others you may deal with at some point. We

Contents Knowing when you start becoming liable to tax is crucial, especially if you are self-employed where self assessment is mandatory upon hitting the income

Contents Private schools are no longer exempt from VAT starting January 2025, confirmed in the recent Autumn Budget. This article covers all you need to

Contents EORI stands for Economic Operators Registration and Identification. Put simply, you need this number to ship internationally, specifically in or out of the European

Contents Second homes are taxed depending on whether you bought, sold, rent out for profits, and other factors. When do you pay tax on second

Contents If you’re one of the departing employees made ‘redundant’ by your employer, you may be entitled to redundancy pay. One of the most popular

Contents With the rising cost of living in the UK, taking second jobs may be a necessity for some to make ends meet. If you

Contents If your tax affairs become too complex for you to handle, they may be best left to experts. How to find tax advisor may

Contents Under the Pay as You Earn (PAYE) system, employee pay is taxed at source. But what happens when your payslip shows no tax deductions?

Contents If you are new to self-employment, you need to inform HMRC first thing so that you get taxed accordingly. Below, we cover how to

Contents Tax is a major consideration if you want to keep more of your hard-earned wealth. This is efficiently done with tax planning. Tax saving

Contents Even if there is no tax to pay, a filing deadline missed will automatically mean a late tax return penalty. If you are due

Contents Do you have to pay capital gains when you sell your house? The answer depends on the taxpayer’s situation, such as whether they own

Contents HMRC may be efficient in managing taxes, but mistakes can still happen, and frequently. Miscalculations usually result in overpaid taxes, but these are repaid

Contents Tax codes represent how much tax to deduct from an employee’s paycheck. They are alphanumeric, with L being the most common (1257L for the

Contents UK business rates are charged on most non-domestic or commercial properties. This differs from council tax, which is charged on domestic properties. Both property

Contents To promote small business growth, the UK government introduced the Seed Enterprise Investment Scheme (SEIS), which offers massive tax breaks for investors. Moreover, if

Contents The UK government recognises both—the vital role successful startups play in driving jobs, innovation, and economic growth and the risky nature of investing in

Contents Getting a Unique Taxpayer Reference (UTR) number is essential to anyone who needs to file self-assessment tax returns in the UK. Whilst the number

Contents UK business owners must understand all their statutory requirements to remain legally compliant. One of them is the confirmation statement UK, which must be

Contents How much can you earn before paying tax UK? Find out the answers here, as we offer a straightforward approach to taxation in the

Contents The National Living Wage 2024/25 decreased its age threshold from 23 to 21, which was in place since 2016. This significant change brings not

Contents Self-assessment is simply HMRC’s way of getting taxpayers to report their income and pay taxes. The process of registering for and completing this tax

Contents Understanding the list of tax codes and what they mean can be very challenging for small businesses. In many cases, the responsibility usually falls

Contents Normally, VAT registration threshold applies, but not in the case of traders without UK establishments, who, for VAT purposes, are termed non established taxable

Contents Currently, a business must register for value-added-tax (VAT) when their total annual turnover reaches the £90,000 VAT threshold, or if they anticipate earning so.

Contents Employers often incur extra costs outside salary payments, usually non-cash rewards for employees, which are taxable benefits in kind (BIK). Some of these expenses

Contents Whether to charge VAT on consultancy services or not will be answered in this article. Read on for a brief guide to this indirect tax,

Contents Tax relief working from home reduces a portion of the financial burden incurred for job or business purposes. This works by reducing the taxable income

Contents Understanding the role of personal tax allowance in an individual income tax gives a clearer grasp of how much the taxpayers’ take-home pay and

Contents Do I pay tax if I sell my house? Many homeowners in the UK wonder about this when they decide to sell their homes

Contents Business Asset Disposal Relief (BADR), previously known as Entrepreneurs’ Relief, offers significant capital gains tax relief for business owners when disposing of qualifying assets,

Contents Corporation tax rates UK had been following a single flat rate system for all businesses regardless of size up until April 2023. There are

Contents At every point of property ownership, landlords have several tax obligations—when they bought the property, rent out for profits, and sell. Below is a

Contents Pay-as-You-Earn (PAYE) workers need the P45 form when they start their first job or leave an old role for another. The form basically passes

Contents Not all accounting practices are solely for government compliance, such as management accounts. Unlike statutory accounts, they are optional and tailored to specific business

Contents Late payment of corporation tax and other taxes attract additional interest. Starting August 2023, the late payment interest rate rose to 7.75%. HMRC, on the

Contents Double taxation treaties clarify cross-border taxation systems and primarily exist to prevent an individual from being taxed twice in two states and mitigate tax

Contents With the personal allowance and additional rate thresholds staying frozen until 2028, the Institute for Fiscal Studies (IFS) forecasts that approximately 2.1 million more taxpayers

Contents Are financial advisor fees tax deductible in UK? This and other self-employed expenses are discussed in this article, covering which expenditures are tax deductible

Contents Since April 2022, the UK income tax rates 2024/25 threshold has stayed frozen, with the next increase expected in April 2028. Read on for

Contents Running a small business involves juggling several tasks at once, which makes it especially easy for small startups to overlook their financial health. Hiring

Contents Marriage allowance offers married or civil partners tax savings of up to £252 for the 2024/25 tax year. This article provides a comprehensive introduction

Contents VAT-registered businesses pay input VAT on their purchased goods and services, which they can reclaim afterwards. Normally, they claim a VAT refund on their

Contents The Autumn Statement 2023 announced an increase in the UK minimum wage 2024 for all four wage categories. Changes in minimum pay always begin in April,

Contents Since pension income is considered an ordinary income, it is taxed. The rule of thumb is to withdraw only within the annual income tax

Contents The latest HMRC Digital Disclosure Service (DDS) is accessible to everyone who wants to straighten their tax affairs. This is to encourage all taxpayers

Contents Capital allowances on property come in several types, each with dynamic and intricate rules. These allowances are not automatic and must always be claimed

Contents How much taxes a subcontractor pays depends on whether they are CIS and/or VAT registered. Our CIS calculator for tax deductions and rebates will

Contents HMRC automatically class UK people who lived abroad for more than six months in a year as non-resident landlords, even if they are considered

Contents HMRC incentivises early payment by paying companies a 0.5 per cent interest rate on their total company tax bill. To take advantage of this

Contents Inheritance tax applies to the taxable portion of the estate and is charged at a standard 40%. With the right IHT planning, gifting millions

Contents Capital gains taxes are paid on profits generated from asset sales or transfers in the UK once the annual allowance is exceeded. Rates depend

Contents Stamp duty tax rates vary in England and Northern Ireland, Scotland, and Wales. This article focuses on UK stamp duty rates for non-residential properties,

Contents HMRC sends one to many letters to different taxpayer groups or agents for various purposes, with content ranging from pure information to prompts. UK

Contents The bounce back loan scheme (BBLS) was a government lending support initiative for businesses struggling financially at the height of the pandemic. For the

Contents Now that the Bounce Back Loan Scheme and repayments are due, the Pay as You Grow scheme comes to the rescue. Implemented as a

Contents In the UK, there are currently 50 per cent of self-employed individuals running their sole trader business, enjoying the freedom and autonomy that sole

Contents The United Kingdom has a complex and constantly changing tax system. Numerous tax reliefs and provisions are available to reduce tax liabilities legitimately without

The Forlough scheme/CJRS will be extended until the end of September. After July, businesses will be asked for a 10% contribution, rising to 20% in August and September 2021.