by admin | Jul 1, 2019 | Income Tax |
If your personal details change, you may be required to notify HMRC as this can affect your entitlement to certain tax breaks and or benefits. For example, you need to tell HMRC if: you get married or form a civil partnership you divorce, separate or stop living with...
by admin | Jul 1, 2019 | Income Tax |
If you make Self-Assessment payments on account, you will no doubt be aware that the second instalment for 2018-19 is due on 31 July 2019. The amount due for payment is usually the same as the first payment on account made on 31 January 2019. These payments are...
by admin | Jun 26, 2019 | Income Tax |
The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home. The current tax-free threshold of £7,500 per year has been in place since 6 April 2016. The relief only applies to the letting of furnished...
by admin | Jun 26, 2019 | Income Tax |
There are a number of reasons why a taxpayer is required to complete a self assessment return. This includes if they are self-employed, a company director, have an annual income over £100,000 and / or have income from savings, investment or property....
by admin | Jun 11, 2019 | Income Tax |
The High Income Child Benefit Charge (HICBC) was introduced in January 2013 and applies a charge to taxpayers whose income exceeds £50,000 in a tax year and who are in receipt of child benefit. The charge claws back the financial benefit of receiving child...
by admin | Jun 4, 2019 | Income Tax |
If you are self-employed and running a business from your home, there are simplified arrangements available for claiming a fixed rate deduction for certain expenses where there is a mix of business and private use. The simplified expenses rules are not available to...
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