Are you making money from a hobby?
The ‘badges of trade’ tests whilst not conclusive are used by HMRC to help determine whether an activity is a proper economic / business activity or merely a money-making side line
When do you pay tax on lodger’s rents?
The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home within certain limits to pay no tax on the lodger’s rents. The limit
Child Benefit claw-back
The High Income Child Benefit charge came into force in January 2013 and applies to taxpayers whose income exceeds £50,000 in a tax year and who are in receipt of child benefit.
Late filing of self-assessment tax returns
Taxpayers that have not yet filed their 2016-17 self-assessment returns, will have already been charged an automatic £100 penalty for late submission. The penalty applied from 1
Small amounts of property and trading income
There are two separate £1,000 tax allowances for property and trading income that have been available to taxpayers since April 2017.
The £1,000 exemptions from tax apply
Let property disclosure campaign
Landlords that receive letting income should notify HMRC by 5 October after the end of the tax year for which you start to receive that income. So, for the 2017-18 tax year that
Extra tax relief for married over 80s
The Married Couple’s Allowance (MCA) is available to elderly married couples or those in a civil partnership, where at least one member of the couple were born before 6 April 1935
Online access to personal tax account
HMRC has issued an update of what can be dealt with by accessing and using a personal tax account (PTA). The PTA works like an online bank account to allow taxpayers to review all
Childcare voucher scheme extended
The Tax-Free Childcare Scheme (TFCS) was launched in April 2017 and opened to all remaining eligible families with children under 12 on 14 February 2018. The new scheme allows
Marriage allowance still time to apply
The marriage allowance is available to married couples and those in a civil partnership, where a spouse or civil partner doesn’t pay tax or doesn’t pay tax above the basic rate