by | 25 Jan, 2024 | Income Tax
There are a number of reasons why you might need to complete a self-assessment tax return. This includes if you are self-employed, a company director, have an annual income over £150,000 and / or have income from savings, investment or property. The...
by | 18 Jan, 2024 | Income Tax
The marriage allowance applies to married couples and those in a civil partnership where a spouse or civil partner does not pay tax or does not pay tax above the basic rate threshold for Income Tax (i.e., one of the couples must currently earn less than the...
by | 11 Jan, 2024 | Income Tax
A new press release from HMRC has highlighted that 49,317 taxpayers took the time to file their tax returns online over the New Year holiday. It is estimated that over 6.5 million taxpayers have already filed their tax returns for 2022-23. This leaves almost...
by | 11 Jan, 2024 | Income Tax
Readers are reminded that if the dividends they draw from their company, when added to their other income, exceeds the basic rate Income Tax Band, then much higher rates of dividend tax will apply. The tax rates for dividends received (in excess of the current...
by | 4 Jan, 2024 | Income Tax
If you earn over £100,000 in any tax year your personal allowance is gradually reduced by £1 for every £2 of adjusted net income over £100,000 irrespective of age. This means that any taxable receipt that takes your income over £100,000...
by | 20 Dec, 2023 | Income Tax
HMRC’s self-assessment (SA) helpline will focus on priority queries from 11 December until 31 January. Whilst the helpline is focusing on priority calls in the run-up to the filing deadline, other enquiries will be directed to HMRC’s online digital...
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