by | May 30, 2024 | Income Tax
If you are a higher rate or additional rate taxpayer you have the option to carry back your charitable donations to the previous tax year. A request to carry back the donation must be made before or at the same time as your previous year’s self-assessment...
by | May 2, 2024 | Income Tax
The self-employed tax basis period reform has changed the way trading income is allocated to tax years. Under the reforms, the tax basis period has changed from a ‘current year basis’ to a ‘tax year basis’. This means that all sole trader and...
by | Apr 18, 2024 | Income Tax
A reminder of the changes to Scottish Income Tax rates for the 2024-25 tax year. It was announced as part of the Scottish Budget measures that a new tax band called the advanced rate band will apply a 45% tax rate on annual income between £75,000 and...
by | Apr 4, 2024 | Income Tax
If you are an employee who is working from home, you may be able to claim tax relief for part of your household bills that are related to your work. If your expenses or allowances are not paid by your employer, you can claim tax relief directly from HMRC....
by | Mar 21, 2024 | Income Tax
HMRC is reminding parents that they may be eligible for Tax-Free Childcare (TFC) to help pay for school holiday childcare costs. The TFC scheme can help parents of children aged up to 11 years old (17 for those with certain disabilities). The TFC scheme helps...
by | Mar 21, 2024 | Income Tax
The usual tax position for couples who live together with their spouse or civil partners is that property income held in joint names is divided 50:50. This is regardless of the actual ownership structure. However, where there is unequal ownership and the couple want...
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