Less than a year before MTD for Income Tax starts
MTD for Income Tax kicks off in April 2026 for those earning over £50k. Digital records, quarterly updates, and tougher penalties are on the way. If this affects you, it’s time to
Tax relief for landlords replacing domestic items
Swapped an old fridge or carpet in your rental property? Landlords can claim tax relief on replacing domestic items – but not if it’s an upgrade! Know the rules and save money by
Child Benefit increases April 2025
Child Benefit has risen for 2025-26: £26.05 for eldest, £17.25 for others. Claim continues to age 20 in approved education. HICBC still applies for incomes over £60K – but PAYE
Checking your tax code for 2025-26
Do you know what your 2025-26 tax code means? It affects how much tax is taken from your pay or pension. Check now to make sure you’re on the right code and not overpaying! Here’s
Beneficial interests in jointly held property
Couples who jointly own rental property are usually taxed 50:50, even if they own different shares. But if you’re married or in a civil partnership, Form 17 lets you split income
Making Tax Digital for Income Tax
Making Tax Digital for Income Tax (MTD for IT) will become mandatory in phases from April 2026. If you’re self-employed or a landlord earning over £50,000, get ready for quarterly
Requesting evidence of earnings
If you’re self-employed, lenders may require an SA302 and tax year overview as proof of earnings for mortgages or loans. These documents verify income declared on your
Rental business mortgage relief
Since April 2020, landlords can no longer deduct mortgage interest as an expense. Instead, tax relief is capped at 20%. This change affects UK and non-UK resident landlords,
Claiming professional fees and subscriptions
Did you know you may be eligible for tax relief on professional fees and subscriptions? If your membership is required for your job and the organisation is HMRC-approved, you could
Tax and Maintenance Payments
Maintenance Payments Relief reduces Income Tax for those making court-ordered payments to an ex-spouse or civil partner. To qualify, one party must have been born before 6 April