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In general, there is no Capital Gains Tax (CGT) on a property which has been used as the main family residence. This relief from CGT... Continue reading

There is a £1,000 tax allowances for miscellaneous trading income that has been available to taxpayers since April 2017. This is known as the trading... Continue reading

HRMC has written to two million taxpayers in Wales concerning the introduction of the Welsh rates of Income Tax (WRIT) from 6 April 2019. The... Continue reading

Employees who use their own money to buy things they need for their job can sometimes claim tax relief for the associated costs. It is... Continue reading

The coding threshold entitles taxpayers to have tax underpayments collected via their tax code, provided they are in employment or in receipt of a UK-based... Continue reading

In the current tax year, anyone with taxable income of less than £16,850 will have no tax to pay on interest received. This figure is... Continue reading

Personal Tax Accounts (PTAs) were launched in 2015 and works as an online resource to allow taxpayers to review and update their details in real... Continue reading

There are a number of reasons why a taxpayer needs to complete a Self Assessment return. This includes, if they are self-employed, a company director,... Continue reading

An overdrawn director's loan account is created when a director (or other close family members) 'borrows' money from their company. Many companies, particularly 'close' private Continue reading