You can usually claim tax relief for pension contributions that you pay. There is an annual allowance for tax relief on pensions of £60,000 for the current 2023-24 tax year. The annual allowance was £40,000 in 2022-23. There is a three... read more

Filing tax returns early makes sense for several reasons. The 2022-23 tax year ended on 5 April 2023 and the new 2023-24 tax year started on 6 April 2023. Many taxpayers will be happy to leave dealing with their 2022-23 tax... read more

In most cases, there is no Capital Gains Tax (CGT) to be paid on the transfer of assets to a spouse or civil partner. There is, however, still a disposal that has taken place for CGT purposes, effectively, at no... read more

If you have taxable income of less than £17,570 in 2023-24 you will have no tax to pay on interest received. This figure is calculated by adding the £5,000 starting rate limit for savings (where 0% of the interest is... read more

National Insurance credits can help qualifying applicants fill gaps in their National Insurance contributions record. This can assist taxpayers in building up the number of qualifying years of National Insurance contributions and which can also increase the amount of benefits a... read more

There are a number of reasons why you might need to advise HMRC about changes in your income.  HMRC’s guidance states that this could happen because you: did not realise you needed to tell HMRC about it; were not sure how to declare it;... read more

The SA302 tax calculation and tax year overview documents are commonly used as evidence of income for loan or mortgage purposes for the self-employed. The forms have become more widely used since the mortgage rules have required evidence of income... read more