Individual Income Tax

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

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

In the UK, if you sell a property and make a capital gain, you need to pay Capital Gains Tax (CGT).

We previously discussed how National Insurance credits could be purchased to supplement your State Pension. 

When it comes to inheritance tax, setting up a trust is often viewed as an effective way to reduce taxes.

Now that the dust has settled, it’s time to take a look at some of the major policies set to be implemented by the new government.

In the UK, all football players who sign contracts with clubs are considered employees, so players must pay taxes directly to the HMRC.

Under the current rules, if you are a UK tax resident and domiciled in the UK, you must pay taxes on your global income and gains.

If you inherit an estate from family or relatives, you are required to pay inheritance tax to HMRC.

Every financial year, you’ll receive a new Individual Savings Account (ISA) allowance of £20,000 which you can save tax-free.

Did you know that the average person will switch jobs 11 times during their career, and accumulate 11 different pensions along the way?

From 1st January 2024, HMRC implemented new rules requiring online marketplaces to collect all seller information and report seller income.

The EU announced that starting from 2025, users of third-party short-term rental platforms need to pay VAT on rental income received.

‘Hard water’ contains a large amount of minerals, such as calcium and magnesium, which form a thin film on the hair.

<p>What is a ‘salary sacrifice’ pension scheme? Have you heard of ‘salary sacrifice’ pensions? This type of occupational pension is aimed at helping individuals save on tax contributions whilst also contributing to their pension. Let’s find out more! 1. What is &#8216;salary sacrifice&#8217;? A salary sacrifice arrangement equates to tax savings for employees. Employees agree [&hellip;]</p>

A recent study by Canada Life revealed that due tax code errors, UK employees have so far overpaid approximately £5.8 billion in taxes.

If you’ve been employed by one than one employer in the UK, you would have received a P45 document after the end of your previous jobs. 

In this day and age, more and more people are choosing not to get married. However, in terms of tax, married couples can enjoy benefits.

The well-known restaurant chain Ping Pong has replaced its 12.5% service charge with a new optional 15% ‘brand’ charge. 

Many savers are currently benefiting from elevated interest rates compared to the record lows seen in previous years.