by | Mar 21, 2024 | Income Tax
The usual tax position for couples who live together with their spouse or civil partners is that property income held in joint names is divided 50:50. This is regardless of the actual ownership structure. However, where there is unequal ownership and the couple want...
by | Mar 14, 2024 | Income Tax
There is still time to register for the marriage allowance before the current tax year ends on 5 April 2024. The marriage allowance applies to married couples and those in a civil partnership where a spouse or civil partner does not pay tax or does not pay...
by | Mar 14, 2024 | Income Tax
If you have taxable income of less than £17,570 in 2023-24 you will have no tax to pay on interest received. This figure is calculated by adding the £5,000 starting rate limit for savings (where 0% of the interest is taxable) to the current £12,570...
by | Mar 14, 2024 | Income Tax
The replacement of domestic items relief enables landlords to claim tax relief when they replace movable furniture, furnishings, household appliances and kitchenware in a rental property. The allowance is available based on the cost of domestic items such as...
by | Mar 7, 2024 | Income Tax
The High Income Child Benefit Charge (HICBC) came into force January 2013 and has applied to taxpayers whose income exceeds £50,000 in a tax year and who are in receipt of child benefit. It was announced as part of the Spring Budget measures that the income...
by | Mar 7, 2024 | Income Tax
In a move that may partly have been prompted by seeking to mirror a longstanding policy of the Labour party, the Chancellor has announced that the generous non-dom rules are to be axed. From April 2025, the government plans to abolish the remittance basis of taxation...
