The 31st of January is the deadline for submission of tax returns for those who chose to file online. Filing taxes is surely not the ideal way to be spending the holidays, but according to HM Revenue and Customs more than 20,000 submitted their returns on New Year’s Eve. If you want to avoid spoiling […]
If you pay tax through the PAYE system, it is your employer’s responsibility to send HMRC information about your income, the amo-unt of taxes paid, and any benefits you receive in kind within the tax year. Once automatic reconciliation is done at the end of each tax year, you will know, one way or another, […]
The UK tax system is a complicated lot. This is why foreigners who come to live and work in the UK must, at least, know the basics. So here’s some info that may be helpful for both New Zealanders and Australians in the UK. All income earned in the UK, including benefits, savings interest, and […]
Saving up for your travels is hard. Especially if you’re counting on tips to top up your income, or if you’re working whilst studying. However, you may just be sitting on a pile of cash if you’ve been overpaying PAYE. Your employer may have put you on the wrong tax code or an emergency tax […]
If you’ve been working in the UK and are ready for a new challenge, then take a look at these exciting opportunities with BUNAC. However for those of you who have been earning whilst in the UK, don’t forget to apply for your tax back to take advantage of these fantastic opportunities. Why take a […]
Wanting to realise some real cash? You could consider cashing out your pension, however, you may want to think about the tax implications of doing so. Here we take a look at cashed out pensions and what they entail when it comes to tax. Cashing Out Your Pension Are you one of those unhappy buyers […]
Claiming Back Tax from Australia When you return home after working in Australia, you need to lodge a tax return in order to claim back tax. If it was temporary, you will need to lodge an Australian tax return online after 30 June, upon your return to your home country. If it was permanent, you […]
Image by ScouserUK from Pixabay Do you want to save tax from your rental property? Keep this tax advice for landlords in mind whilst filing your tax return. Tax Advice For Landlords Deposits from your new tenants should be excluded from your property income tax return, so you don’t need to pay tax for them. […]
BUNAC are specialists in working holidays and internships abroad, offering programmes where you gain professional work experience and career skills around the world while travelling in a new place. The UK is one of BUNAC’s most popular work and travel destinations and, with its vibrant multi-cultural cities full of businesses, gritty theatre and eighteenth century […]
Find out more about cashed pensions Now that you’re allowed to take cash from your pension, it can be an ideal source of funds, especially if you really need cash, and you have no other sources available. But due to penalties and tax fees, you might want to do this the smart way. Take only […]