The subject of taxes is not something people would enjoy talking about. But because it is one of the two things that are certain in life, everyone must face and understand it, especially the terminologies. Adjusted Gross Income – The amount of money left after credits, certain business expenses, and other selected deductions are made. […]
Come April 2018, there will be changes to tax rates, allowances, and exemptions. The changes will affect private clients, corporate and business, property, and employment. Allowances and Reliefs Personal allowance For the tax year 2018/19, the personal allowance will have an increase of £350, effectively increasing it from £11,500 to £11,850. 10% of this amount […]
Did you know that you could be owed a UK Tax Refund if you’ve been put on emergency tax. Check your payslip against these handy tips to find out. Apply for your UK Tax Refund at www.taxback.co.uk If you’re on a working holiday in the UK or are claiming your tax back after completing a […]
Do you need help setting down in London? For a lot of people, starting a new life in a new place can be overwhelming. And you probably feel that way for a couple of days or so after you move in. But if you know what to do and what to prioritise, you will […]
When was the last time that you checked your payslip? Not the kind where you looked over it at a glance, but thoroughly check it and understand what the entries are about. Are you even sure that what you are getting is a detailed payslip? Most people considers it as nothing more than a […]
Are you planning to leave the UK? You should know that you are entitled to a tax refund when you leave the country. This is especially true if you leave part-way through the tax year, where any chance of you receiving your full tax-free allowance is lost. Since your tax-free allowance is divided evenly […]
As a new arrival to the UK, or if you are embarking on your first job in the UK, there’s a high possibility that you might get put on an Emergency Tax Code by your employer. It’s not their fault, it’s the rules imposed by HMRC. What this will mean is the Emergency Tax Code […]
The UK makes for an attractive option for New Zealanders wanting to take a working holiday. Here we take a look at a few tax tips for Kiwis in the UK. When working in the UK you are legally obliged to abide by all applicable UK tax regulations. The first step upon arrival is […]
For the current tax year, 6 April 2017 to 5 April 2018, the standard personal allowance is £11,500, which is completely tax-free. Anything you earn over that will be taxable. How much income tax you would have to pay? The amount will depend on which income band you fall on whether or not looking for […]
As an employee, you are entitled to several benefits and your employer may reimburse expenses to you. Not all of these benefits and expenses payments are taxable, however, which is good news for taxpayers. You can ignore non-taxable income for tax purposes and exclude it in your calculation. Related articles: Self assessment tax returns PAYE […]