If you are self-employed, claiming all of your allowable business expenses can significantly reduce your tax bill. For example, if your business turnover is £40,000 and you have £10,000 of allowable expenses, you will only pay tax on your taxable profit of £30,000. However, personal spending and
Families claiming Child Benefit should be aware of the High Income Child Benefit Charge (HICBC), which can apply when one member of the household has a higher income.
The charge applies where an individual has adjusted net income of more than £60,000 in a tax year and either they or their partner
Pensions remain one of the most tax-efficient ways to save for retirement, due to a range of tax reliefs and allowances that can help boost retirement savings.
One of the key advantages of private pension contributions is the availability of tax relief on pension contributions. Individuals can
Many married couples and civil partners could be missing out on valuable tax savings available by claiming the Marriage Allowance. If your circumstances are suitable, this is a reminder to consider the Marriage Allowance, as a simple claim could reduce your tax bill by up to £252 during the 2026-27
In the world of HR, the ubiquitous disclaimer "subject to references" is often viewed by employers as an escape clause, one which allows them to withdraw an offer at any time before “Day One”. However, a recent ruling has clarified that a conditional offer can become a binding
The government has announced a review into access to face-to-face banking services as concerns continue to grow over the impact of bank branch closures on local communities, older customers and small businesses.
Over recent years, many high street bank branches have closed as more customers move
Companies House has published its business plan for 2026-27, setting out its priorities for the coming year as it continues to implement major reforms aimed at improving the quality of information held on the UK companies register and tackling economic crime.
A key objective is to improve the
The option to tax is a VAT election that allows businesses to treat supplies of most non-residential land and buildings as taxable rather than VAT exempt. Once an option to tax is made, supplies in relation to that property are generally subject to VAT at the standard rate.
One of the key
Self-assessment taxpayers are usually required to make payments on account to pay their Income Tax liabilities. These are paid in two instalments, the first on 31 January during the tax year and the second on 31 July following the end of the tax year. A final balancing payment (or repayment) is then
Most lifetime gifts are treated as potentially exempt transfers (PETs) for Inheritance Tax (IHT) purposes. In general, these gifts become fully exempt if the donor survives for seven years after making the transfer. If death occurs within seven years, the gift may become chargeable, with taper