Will you have to repay Child Benefit for 2018-19?
The High Income Child Benefit charge applies to taxpayers whose income exceeds £50,000 in a tax year and who are in receipt of Child Benefit. The charge claws back the
Be wary of 60% Income Tax charge
For high earning taxpayers the personal allowance is gradually reduced by £1 for every £2 of adjusted net income over £100,000 irrespective of age. This means
Advising HMRC of changes in your personal details
If your personal details change, you may be required to notify HMRC as this can affect your entitlement to certain tax breaks and or benefits.
For example, you need to tell HMRC
Tax payment time again
If you make Self-Assessment payments on account, you will no doubt be aware that the second instalment for 2018-19 is due on 31 July 2019. The amount due for payment is usually the
Who should register for self assessment?
There are a number of reasons why a taxpayer is required to complete a self assessment return. This includes if they are self-employed, a company director, have an annual income
Rent-a-room scheme
The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home. The current tax-free threshold of £7,500 per year has been in
HMRC cancels penalties charged to 6,000 families
The High Income Child Benefit Charge (HICBC) was introduced in January 2013 and applies a charge to taxpayers whose income exceeds £50,000 in a tax year and who are in
Working from home allowance
If you are self-employed and running a business from your home, there are simplified arrangements available for claiming a fixed rate deduction for certain expenses where there is
Not sure if you need to submit a tax return?
There are a number of reasons why you may need to register with HMRC to submit a tax return. This could include:
if you are self-employed and earning more than £1,000 per
Want to pay-off your student loan in full?
Student Loans are part of the government’s financial support package for students in higher education in the UK. They are available to help students meet their expenses while