Category: Income Tax

From April 2026, Making Tax Digital for Income Tax (MTD for IT) will become mandatory for many self-employed persons and landlords, marking a significant change in how they manage their tax affairs.

HMRC’s figures show thousands of taxpayers are filing over the festive period, but leaving your return until late January risks penalties, stress and avoidable payment problems. A new press release

Are you ready for Making Tax Digital for Income Tax (MTD for IT)? This new way of reporting will become mandatory in phases from April 2026. If you are self-employed or a landlord earning over

With the 31 January deadline approaching, thousands of taxpayers are using HMRC’s Time to Pay service to spread the cost of their self-assessment tax bill rather than facing immediate payment

Students that work may need to pay Income Tax and National Insurance. Employers are required to calculate the amount of tax they need to pay on the basis that the students would be working for the

The government announced at Budget 2025 that dividend income, property and savings income, will be subject to new tax rates. These changes will be legislated for through the Finance Bill 2025-26 and

The June 2025 reforms introduce a £35,000 income limit for keeping the Winter Fuel Payment, with HMRC recovering the payment from those above the threshold. The WFP is a tax-free payment provided by

HMRC has published a new Making Tax Digital newsletter. This newsletter is mainly intended for taxpayers and agents who are currently testing the Making Tax Digital for Income Tax (MTD for IT) system.

There are now less than 2 months to the self-assessment filing deadline for submissions of the 2024-25 tax returns. We urge our readers who have not yet completed and filed their 2024-25 tax return to

The rules that govern who pays Income Tax in Scotland is determined by whether an individual is considered a Scottish taxpayer. For most people, determining Scottish taxpayer status is

The chancellor Rachel Reeves announced as part of the Autumn Budget measures that the Income Tax thresholds will be maintained at their current levels for a further three years until April 2031. This

Making Tax Digital for Income Tax (MTD for IT) will become mandatory in phases from April 2026. If you are self-employed or a landlord and have over £50,000 in qualifying income you need to start

If you earn fees or sell goods as a side hustle, you may need to pay tax on your profits. HMRC has launched a new press release encouraging Christmas crafters and anyone with a fee earning hobby to

If you are unable to pay your tax bill, it's important to reach out to HMRC as soon as possible. HMRC may offer a Time to Pay arrangement, allowing you to settle the debt in manageable instalments

It is quite common for tax codes to be wrong, particularly if your income or employment situation has changed, so it is worth taking a few moments to check that HMRC has the correct information about

If you file a Self-Assessment return you may need to pay your tax in three instalments, so it is useful to know when payments on account apply and when they can be reduced or removed. The first two

For the current tax year, taxpayers with adjusted net income between -100,000 and -125,140 will face an effective marginal tax rate of 60%, as their -12,570 tax-free personal allowance is gradually

Married couples and civil partners could save up to -252 a year by transferring part of one partner-s unused personal allowance to the other, but you may need to cancel the claim if your income or

If your income exceeds -60,000 and you or your partner receive Child Benefit, you can now choose to pay the High Income Child Benefit Charge through your PAYE code instead of filing a Self-Assessment

Many people rely on state benefits, but it is not always obvious which payments are taxable and which are tax-free.

HMRC-s guidance outlines the following list of the most common state benefits on

The standard tax treatment for couples living together, whether married or in a civil partnership, is that income from jointly held property is split equally (50:50) between them, regardless of their

Homeowners can earn up to -7,500 tax-free under the rent-a-room scheme, with simple reporting and flexible tax options.

This set of special rules is designed to encourage individuals to make use of

Paper tax returns are due 31 October 2025, and new registrants must notify HMRC by 5 October 2025. Act early to avoid penalties.

Firstly, the deadline for submitting paper self-assessment tax returns

Speculation is growing that rates or allowances applied to dividend income may change in the next Budget.

The current tax rates for dividends received (in excess of the -500 dividend tax allowance)

Thinking of gifting income to a spouse or partner? HMRC-s settlements rules may still tax it as your own.

The settlements legislation is contained in s.624 ITTOIA 2005. The legislation seeks to

The letters in your tax code indicate whether you are entitled to the annual tax-free personal allowance. These codes are updated each year and help employers calculate how much tax should be deducted