Tax rules for savings interest

by | Jun 19, 2025 | Income Tax | 0 comments

You could earn up to £18,570 in tax-free savings interest in 2025–26, thanks to the personal allowance, starting rate for savings, and the Personal Savings Allowance. If your taxable income for the 2025–26 tax year is less than £17,570, you...

Who must send in a tax return

by | Jun 19, 2025 | Income Tax | 0 comments

From self-employment to rental income, there are many reasons you may need to file a Self-Assessment return. Know the triggers and register with HMRC by 5 October if this is your first time. There are a number of reasons why you might need to complete a...

When do the higher rates of Income Tax apply

by | Jun 19, 2025 | Income Tax | 0 comments

Once your income passes £100,000, your tax-free allowance starts to shrink. Between £100,000 and £125,140, the effective tax rate climbs to 60%, but smart planning can help. If you earn over £100,000 in any tax year your personal allowance is...

Do not forget to claim the marriage allowance

by | Jun 12, 2025 | Income Tax | 0 comments

If one partner in a marriage or civil partnership earns under £12,570, you could save up to £252 a year, and up to £1,260 if you backdate your Marriage Allowance claim for the past four years. The Marriage Allowance can be claimed by married couples...

Could you extend Child Benefit claim?

by | May 22, 2025 | Income Tax | 0 comments

Parents of 16–19-year-olds: confirm your child’s continued education or training by 31 August 2025 to keep Child Benefit payments going. Last year, over 870,000 families updated HMRC, most online. It only takes a few minutes and helps avoid missed...