What is the High Income Child Benefit Charge?
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
The Marriage Allowance if circumstances change
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
State benefits taxable and non-taxable
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
Heads up for company directors
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
Two important 2025 self-assessment deadlines
Paper tax returns are due 31 October 2025, and new registrants must notify HMRC by 5 October 2025. Act early to avoid penalties.
Firstly, the deadline for submitting paper self-assessment tax returns
Tax-free income from letting a room in your home
Homeowners can earn up to £7,500 tax-free under the rent-a-room scheme, with simple reporting and flexible tax options.
This set of special rules is designed to encourage individuals to make use of
Sharing income from jointly held property
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
Dividend taxes will they increase?
Speculation is growing that rates or allowances applied to dividend income may change in the next Budget.
The current tax rates for dividends received (in excess of the £500 dividend tax allowance)
What is the settlement legislation?
Thinking of gifting income to a spouse or partner? HMRC’s settlements rules may still tax it as your own.
The settlements legislation is contained in s.624 ITTOIA 2005. The legislation seeks to
Why your tax code might change
The letters in your tax code indicate whether you are entitled to the annual tax-free personal allowance. These codes are updated each year and help employers calculate how much tax should be deducted
