by Birka Bosman | Mar 31, 2022 | Investment income
Since 6 April 2016, banks and building societies are no longer required to deduct income tax from your interest before paying it to you. Instead, your interest is paid to you gross. With the changes, the Personal Saving Allowance was introduced as an addition to the...
by Birka Bosman | Mar 3, 2022 | Capital Gains Tax
Capital Gains Tax (CGT) is a type of tax that is incurred due to the profit you make when selling or ‘disposing of’ an asset that has increased in market value, since the market value upon initial purchase. Tax is paid on the gain that you make, for example, on...
by Birka Bosman | Jan 18, 2022 | Compliance
Are you self-employed or have a business from which you earn dividends? If your UK tax bill is more than £1000 for a tax year and you pay less than 80% of your income tax at source i.e. salary income from which PAYE is deducted, HMRC will ask you to make advance tax...
by Birka Bosman | Jan 14, 2022 | Capital Gains Tax
You can claim tax relief on the disposal of your only or main residence (also called your principle private residence or PPR) and as a result not pay any Capital Gains Tax (CGT). This is called Private Residence Relief (PRR). The exemptions cover total grounds,...
by Birka Bosman | Jan 13, 2022 | Compliance
There are some nasty consequences when you’re late on your personal tax return. That’s why it’s important to be aware of the deadlines and make sure you file your tax correctly! In this post we set out the deadlines so that you don’t have to...
