The Knowledge Centre

The UK tax landscape is always transforming! It’s important to keep up to date on the changes which will affect you. If you are self employed and operate as a sole trader or in partnership, be aware of the new basis period rules. These rules apply from 6 April 2023 and will ultimately shift the […]

Under neon loneliness – Self Assessment deadline looming It’s that time of the year again when the annual tax return deadline becomes the main focus for us advisers (and many) of taxpayers or ‘customers’ as HMRC labels them. For the large majority of taxpayers, their annual tax compliance, although sometimes daunting to the untrained or […]

If you are working overseas and fall outside of the UK compulsory National Insurance (NIC) system, then you may wish to pay voluntary contributions to ensure that you protect your future benefit rights. Individuals are able to choose whether to pay voluntary contributions when working outside of the UK as long as they satisfy the […]

Tax Return Advice Tax return – introduction Not everyone needs to complete a tax return. For the tax year 2020/21 HMRC issued notices to around 12.2 million lucky ‘customers’. On the basis that there are around 67.5 million people in the UK. This is about 18% of the total population (including children and those who […]

31 July 2020 – Self Assessment Deferral & Payments – FAQs On 31 July each year, many individual taxpayers (including Trustees) are required to make an income tax payment on account. The government have announced a range of measures to support businesses and taxpayers in response to the challenges posed by COVID-19, which include a […]

Introduction – Tax relief & charitable gifts It is reported there has been a “steady decline” in the total amount of charitable donations. This is despite the availability of healthy charity tax relief. This article will focus on precisely what reliefs are available in the UK for the philanthropically minded taxpayer. The nature of the […]

Introduction The Personal Tax Account service was introduced by the Government in December 2015. It is supposed to be a way to make life easier for individuals who manage their tax affairs online. A cynic might say this avoids HMRC having to answer the phone or opening the good old fashioned post. However, not having […]

Individual Taxable Income – The Self-Assessment Tax Return Process Many of you will have received a tax coding notice from HMRC over the past couple of weeks, but what does this mean and is your code correct? A tax code is a way for HMRC to collect tax on an individual’s taxable income outside the […]