Definition of a Welsh taxpayer
The start of the 2019-20 tax year marked a fundamental change to the way Income Tax is calculated for people who live in Wales. The new Welsh rates of Income Tax (WRIT) is payable
Definition of a Scottish taxpayer
The Scottish rate of Income Tax (SRIT) commenced on 6 April 2016 and is administered by HMRC on behalf of the Scottish Government. The SRIT is payable on the non-savings and
Residential landlords’ tax changes complete April 2020
The tax relief on finance costs used to buy investment properties is being gradually restricted to the basic rate of tax. The full finance costs restriction will be in place from 6
Basis periods – the general rules
A basis period is the time period for which the self-employed or partnerships pay tax in each tax year. The general rule is that the profits for a tax year are those arising in the
Reporting changes that affect Child Benefits
You must notify HMRC of certain changes to family life. For example, a change in your child’s or your family’s circumstances. This is to ensure that the correct amount
Paper Self-Assessment return deadline
The 2018-19 tax return deadline for taxpayers who continue to submit paper Self-Assessment returns is 31 October 2019. Late submission of a Self-Assessment return will become
Simplified expenses motor vehicles
There are simplified arrangements in place for the self-employed (and some partnerships) to claim a fixed rate deduction for certain expenses where there is a mix of business and
Simplified expenses use of home
If a taxpayer is self-employed and running a business from home, there are simplified expense rules available for claiming a fixed rate deduction for certain expenses where there
How dividends are taxed
The dividend tax allowance was introduced in April 2016. It replaced the old dividend tax credit with an annual £5,000 dividend allowance with tax payable on dividends
Blind Person’s Allowance
The Blind Person’s Allowance is an extra amount of tax-free allowance made available to those who are eligible. The allowance for the current 2019-20 tax year is