by | Oct 16, 2025 | Income Tax
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and £125,140 will face an effective marginal tax rate of 60%, as their £12,570 tax-free personal allowance is gradually withdrawn. If a taxpayer earns over £100,000...
by | Oct 9, 2025 | Income Tax
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 relationship status changes. The Marriage Allowance...
by | Oct 9, 2025 | Income Tax
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 return; a simpler way to stay compliant while keeping...
by | Oct 2, 2025 | Income Tax
As of April 2025, directors of close companies and self-employed taxpayers face new mandatory reporting requirements on their Self-Assessment returns. Up to 900,000 company directors and 1.2 million taxpayers carrying on a trade will be impacted by new rules that...
by | Oct 2, 2025 | Income Tax
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 which Income Tax is payable, subject to the usual limits:...
by | Sep 25, 2025 | Income Tax
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 actual ownership shares. However, if the ownership is unequal and...
