The 60% tax band
Many taxpayers are surprised to learn that once their income exceeds £100,000, they can face an effective tax rate of 60%, although officially, no such rate appears to exist. This
How dividends are taxed
Dividends are taxed differently from other types of income, with separate allowances and tax rates that depend on your overall level of income. You do not pay tax on dividends that
How the Marriage Allowance works
The Marriage Allowance lets you transfer £1,260 of your Personal Allowance to your husband, wife or civil partner. Your Personal Allowance is the amount you can earn before paying
Tax on savings interest
If your taxable income for the 2026-27 tax year is less than £17,570, you will not pay any tax on the interest you receive. This figure combines the £5,000 starting rate for
Setting off losses against other income sources
If you are self-employed or a member of a partnership, you may be able to claim tax relief when your business makes a loss. There are several ways trading losses can be used, but
Filing your 2025-26 self-assessment tax return
The 2025-26 tax year ended on 5 April 2026, and attention now turns to filing your self-assessment tax return. While many leave this until the last minute, there are advantages to
Who pays Income Tax at Scottish rates?
The rules as to who pays Income Tax in Scotland is determined by whether an individual is considered a Scottish taxpayer or not. For most people, determining Scottish taxpayer
Do you have a personal tax account yet?
Your Personal Tax Account (PTA) is an easy and secure way to manage your tax online. You can use it to check your tax code, claim a refund and update your details, all in one
MTD – when the quarterly returns to HMRC are due
Making Tax Digital (MTD) for Income Tax began on 6 April 2026 for qualifying taxpayers. Those with qualifying income over £50,000 are now required to maintain digital records and
MTD for Income Tax – are you affected?
If you have not yet checked whether you need to use Making Tax Digital (MTD) for Income Tax, now is the time to urgently see if you are affected. The Income Tax reporting