Claiming to reduce payments on account
Self-assessment taxpayers are usually required to make payments on account to pay their Income Tax liabilities. These are paid in two instalments, the first on 31 January during
Making Tax Digital – which software to use
Making Tax Digital (MTD) for Income Tax is now in force for many self-employed individuals and landlords. Since 6 April 2026, taxpayers with qualifying business or property income
Working out your UK residence status
Your UK residence status affects how much tax you pay in the UK and, in particular, whether your foreign income and gains are subject to UK tax.
In simple terms, UK residents are
Do you need to register for self-assessment?
Depending on your income and circumstances, you may need to register for self-assessment. This may be the case even if most of your income is taxed through PAYE.
You will usually
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