As of April 2025, directors of close companies and self-employed taxpayers face new mandatory reporting requirements on their Self-Assessment returns. Up to 900,000 company directors and 1.2 million

Many people rely on state benefits, but it is not always obvious which payments are taxable and which are tax-free. HMRC’s guidance outlines the following list of the most common state benefits on

The standard tax treatment for couples living together, whether married or in a civil partnership, is that income from jointly held property is split equally (50:50) between them, regardless of their

Homeowners can earn up to £7,500 tax-free under the rent-a-room scheme, with simple reporting and flexible tax options. This set of special rules is designed to encourage individuals to make use of

Paper tax returns are due 31 October 2025, and new registrants must notify HMRC by 5 October 2025. Act early to avoid penalties. Firstly, the deadline for submitting paper self-assessment tax returns

Speculation is growing that dividend tax rates and allowances may change in the upcoming Budget. For business owners, investors, and anyone who receives dividend income, understanding how the current

Thinking of gifting income to a spouse or partner? HMRC’s settlements rules may still tax it as your own. The settlements legislation is contained in s.624 ITTOIA 2005. The legislation seeks to

From 2024, platforms like eBay, Vinted and Airbnb must report seller data to HMRC, so check your tax responsibilities. If you sell goods or services on a digital platform it is important to

The letters in your tax code indicate whether you are entitled to the annual tax-free personal allowance. These codes are updated each year and help employers calculate how much tax should be deducted