Individual Income Tax

The UK personal income tax system is progressive, meaning the tax rate increases as income rises. For the 2024/25 tax year, individuals have a Personal Allowance of £12,570, meaning income up to this amount is tax-free.

HMRC announces three new tax rules with millions of UK households warned

Rachel Reeves may have to raise UK taxes in October. HMRC announces three new tax rules with millions of UK households warned.

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Mar 315 min read

Labour plans to implement a 2% wealth tax to generate additional billions of pounds in revenue.

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Mar 244 min read

Farmers Protest New Inheritance Tax Policies

Farmers Protest New Inheritance Tax Policies.

TBA

Mar 194 min read

Do You Need to Pay Tax on Savings Interest in the UK?

Do You Need to Pay Tax on Savings Interest in the UK? Today, we’ll provide detailed information on taxation of bank interest earnings.

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Mar 195 min read

Half of UK Residents Set to Be ‘Net Welfare Recipients’?

Data reveals that over half of UK residents are net welfare recipients.

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Mar 43 min read

You may be entitled to a refund - check your tax code now!

Does HMRC owe you money? You may be entitled to a refund! Check your tax code now!

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Feb 282 min read

Manging your post-holiday expenses and bills

While you can still imagine the aroma of turkey and red wine, for many, the festive season left behind a burden: debt.

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Feb 263 min read

Gifting Property in Advance Might Save Some Inheritance Tax, But What About Retirement Funds?

Following significant reforms to UK inheritance tax rules introduced by Chancellor Rachel Reeves in what has been dubbed the largest tax-rai

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Feb 213 min read

Tax adjustments in 2025 due to take effect soon!

Multiple measures from the Labour Party’s Autumn Budget are set to take effect in 2025.

TBA

Feb 53 min read

Non-domicile tax regime set to be abolished

With the announcement of the Autumn Budget, several tax increases have caused widespread confusion.

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Jan 153 min read

Navigating ‘tax traps’ in the UK – a guide for high earners (II)

In our previous reports, we shared that over 500,000 UK taxpayers have fallen into the 60% tax trap, an increase from last year.

TBA

Nov 8, 20243 min read

Minimum Wage Increases, Second Home Stamp Duty Increases, and Capital Gains Tax Increases! What’s new in the Autumn Budget 2024?

The Chancellor of the Exchequer Rachel Reeves announced Labour’s first Autumn Budget since taking office earlier this y

TBA

Nov 1, 20245 min read

Company directors – choosing between salary and dividends (II)

Last time, we explored the advantages and disadvantages of receiving a salary versus dividends from your company.

TBA

Oct 30, 20242 min read

Is the UK about to raise taxes? Here are some things for you to consider before the Budget

At the end of this month, the Labour government will announce its first autumn budget after taking office.

TBA

Oct 18, 20243 min read

How does UK tax residency work, and do I need to pay tax on overseas income?

We often encounter clients who are confused about their tax obligations, particularly when it comes to income earned overseas.

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Oct 4, 20244 min read

Reminder to all landlords – rental income is taxable!

Today, we would like to issue an important reminder to landlords, as well as to anyone considering entering the rental market.

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Sep 27, 20243 min read

Property vacant? Important issues for landlords to consider

There are ways to reduce your tax liability by deducting certain expenses that are deemed “qualified” by tax authorities.

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Sep 25, 20243 min read

Part-time work in the UK – is extra income taxed?

Will HMRC know if I have secretly earned extra money? How does HMRC track your income? How should I manage my additional income?

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Sep 13, 20242 min read

Why is HMRC interested in overseas income?

We recently handled a case which we’d like to share with you. It’s regarding the investigation of an individual’s overseas income.

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Sep 11, 20243 min read

HMRC fines takeaway shops in tax evasion crackdown

HMRC recently launched a tax evasion crackdown on takeaway shops which were alleged to have altered their sales figures!

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Sep 6, 20244 min read