by admin | Apr 24, 2025 | Income Tax |
MTD for Income Tax kicks off in April 2026 for those earning over £50k. Digital records, quarterly updates, and tougher penalties are on the way. If this affects you, it’s time to get ready. Designed to modernise the tax system and improve accuracy, MTD...
by admin | Apr 16, 2025 | Income Tax |
Swapped an old fridge or carpet in your rental property? Landlords can claim tax relief on replacing domestic items – but not if it's an upgrade! Know the rules and save money by claiming what you are entitled. The replacement of domestic items relief allows...
by admin | Apr 10, 2025 | Income Tax |
Child Benefit has risen for 2025–26: £26.05 for eldest, £17.25 for others. Claim continues to age 20 in approved education. HICBC still applies for incomes over £60K – but PAYE option coming this summer! The child benefit rates for the...
by admin | Apr 10, 2025 | Income Tax |
Do you know what your 2025–26 tax code means? It affects how much tax is taken from your pay or pension. Check now to make sure you're on the right code and not overpaying! Here's what the letters and numbers really mean. You can find your tax code: by...
by admin | Mar 27, 2025 | Income Tax |
Couples who jointly own rental property are usually taxed 50:50, even if they own different shares. But if you're married or in a civil partnership, Form 17 lets you split income based on actual ownership—provided you meet HMRC's rules. The standard tax...
by admin | Mar 27, 2025 | Income Tax |
Making Tax Digital for Income Tax (MTD for IT) will become mandatory in phases from April 2026. If you’re self-employed or a landlord earning over £50,000, get ready for quarterly updates, digital record keeping, and a new penalty system. Initially, MTD...
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