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Working out your UK residence status
Your UK residence status affects how much tax you pay in the UK and, in particular, whether your foreign income and gains are subject to UK tax.
In simple terms, UK residents are normally taxed on
Do you need to register for self-assessment?
Depending on your income and circumstances, you may need to register for self-assessment. This may be the case even if most of your income is taxed through PAYE.
You will usually need to file a
Tax and termination payments
The tax treatment of termination payments is governed by a detailed set of rules that determine how much is taxable and whether National Insurance contributions apply. The structure of a termination
Employment law changes pressure small businesses
Many small business owners are already feeling the effects of rising staffing costs, tighter recruitment conditions and increased administration. Recent employment law changes are now adding further
Why cyber security is now a business survival issue
Cyber security is no longer a concern limited to large corporations. Increasingly, smaller businesses are finding themselves targeted by phishing attacks, payment frauds and ransomware incidents, many
The 60% tax band
Many taxpayers are surprised to learn that once their income exceeds £100,000, they can face an effective tax rate of 60%, although officially, no such rate appears to exist. This happens when the
How capital gains are linked with Income Tax
How capital gains are linked with Income Tax is important to understand as your overall income position affects the Capital Gains Tax (CGT) rate you pay.
CGT interacts directly with your Income Tax
National Insurance liability on benefits in kind
National Insurance contributions that relate to employee benefits are known as Class 1A National Insurance contributions. Employers must pay these National Insurance contributions on most work-related
Self-employed National Insurance
Most self-employed people are required to pay Class 4 National Insurance contributions (NICs). Class 4 NICs are payable if their profits are £12,570 or more a year.
Class 4 NIC rates are currently
How the Marriage Allowance works
The Marriage Allowance lets you transfer £1,260 of your Personal Allowance to your husband, wife or civil partner. Your Personal Allowance is the amount you can earn before paying Income Tax (£12,570
