If you’re nearly ready to submit your self-assessment tax return for the 2015/16 tax year or perhaps you already have, then you may want to start thinking about the forthcoming tax year! With the 2016/17 tax year in mind, we thought we’d refresh you on your personal allowance so you know where you’re at when […]
In the UK, tips are discretionary rather than compulsory. But they could be taxed when they are given to bar staff, waiters and other hospitality workers. Are tips taxable? Yes. Tips are subject to tax and, in some cases, National Insurance (NI), depending on who received the tips and how they are shared out. Tips […]
Filing your self-assessment paper return and wondering how much you’ll be taxed? We break down the current income tax rates to keep you in the know! Wondering how much income taxyou need to pay for the tax year 2016/17? The answer would depend on the personal allowance and the tax rate applicable to you. […]
A Guide On How Foreign Income & Gains Of International Students Are Taxed Tax can be tricky when you are working as a temp. Whether you’re temping in an office, or covering events, it’s important to keep track of what you’re earning and what you’re being taxed. As a temporary worker it’s quite possible you’ll […]
Can You Really Cash Out your Pension Before Age 55? Who doesn’t want to take advantage of the money you’ve been saving up almost all your life? It is your pension, after all, so you should be able to do with it as you wish. But it is this kind of thinking that could land […]
Do you plan to move to the UK? There are two things you need to know – National Insurance (NI) and the UK tax. Among the many things you need to know about, these should be your top two priorities, as they are essential to employment. National Insurance (NI) You pay for NI so you […]
Tax Advice For Offshore Workers If you are an offshore worker, you may be eligible for a tax refund. You just need to know how and where a refund is applicable. As an employee working offshore, you can claim back tax on the following: Travel expenses that HMRC designates as ‘temporary workplaces’. This must be […]
Tax Tips for British Expats Are you a British expat moving abroad and you’re wondering about the tax implications? Read on. Don’t think that you are far from the reach of the taxman, because you’re not instantly exempt from UK tax when you move overseas. Tax treatment, however, will depend on your particular circumstances. UK […]
Owning a small business, or working from home, has become everyone’s dream, not only for the prospect of earning more than what a regular income provides, but also for the possibility of having more control over your time and effort. The only downside is that working from home makes tax quite complicated. But there are […]
Filing a tax return can be time-consuming, which is why a lot of people put it off until the last minute, when things aren’t always looking up. But there are ways to save time and money when dealing with tax. Keep a record of everything and anything that is taxable, so your tax return will […]