As the self-assessment deadline looms, if you haven’t yet done your tax return, or are looking to file 2024/25 early in April, don’t forget the potential tax reliefs available! 🎁 Gift Aid: If you are a higher or additional rate taxpayer, you can potentially claim...
For those who have already filed your self-assessment tax returns, and those who have yet to, please be reminded that 31st January 2025 is also the payment deadline for your 2023/24 tax bill and the first payment on account for 2024/25 (if applicable). If you do not...
In April 2023, the threshold for high earners required to do a self-assessment tax return, even if the income was taxed through PAYE only, was increased from £100,000 to £150,000. From 6 April 2024, this threshold was removed altogether. This is a long-awaited...
📌 What is HICBC? HICBC, as it is known for short, is where if you or your partner earn an individual income of over £60,000 for the 2024/25 tax year and one of you claims Child Benefit, you may have to pay some or all of it back. Income in this case is defined as your...
Keeping your accounts and records in order can seem a little… tricky. For the self-employed, when income and outgoings are not always regular, if you allow enough time to pass, it can very suddenly look like an endless sea of invoices, receipts, and paperwork. How are...
