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Understanding Side Hustle Taxation: Essential Tips from HMRC With the rise of side hustles, HMRC highlights the need to understand side hustle taxation. Earnings above £1,000 require registration and a self-assessment tax return. By being proactive, side hustlers can manage their obligations without stress, ensuring they meet the January deadline ... The Dangers of Raising Capital Gains Tax Rates at the Autumn Budget Capital gains tax is under scrutiny as the Chancellor considers potential hikes to fill budget gaps, but such moves could backfire on economic growth ... Tax Freedom Day Falls Three Weeks Later in 2025 Tax Freedom Day in 2025 has shifted to 12 June, signaling a concerning trend. Explore strategies to bring yours closer ... Unlock Extra Income with the Rent A Room Scheme Earn up to £7,500 tax-free with the Rent A Room Scheme. Perfect for homeowners or renters looking for extra income ...
Salary or Dividends: Optimising Income for Directors Optimising income for directors: Find the balance between salaries and dividends while navigating tax changes. Improve your remuneration strategy ... How VAT on Private School Fees Triggered a 22.6% Rise in Education Costs VAT on private school fees causes 22.6% increase in costs. Enrolment declines raise concerns for future of private education ... HMRC Taking A Good Look At Savvy Online Sellers Online sellers react to HMRC's new data sharing initiative to tackle tax evasion. Mixed reactions from online sellers ...,
Trusts Did Not Benefit Family in £442k Inheritance Tax Case A recent case challenged HMRC's view on trust benefits in inheritance tax matters, highlighting complexities in tax law ... Maximising Tax Relief on Pensions Tax policy changes can impact individual financial planning. Strategic pension contributions can mitigate these effects ... The Future of Small Pension Pots The landscape of retirement savings in the UK is changing, especially concerning small pension pots ... Stamp Duty: The £6.6M Property That Cost An Extra £475K Few events are as nerve-wracking as encountering unexpected tax demands following a purchase. The case of a £6.6 million property bought by pharmacist Bemal Patel stands as a glaring example of how these treacherous waters can lead to disaster ... More Than 1.1 Million Savers Affected by New Tax on Savings More than 1.1 million savers across the country have been impacted by a burgeoning tax on savings ... The Perils Of Gifting Cash To Your Children Gifting cash for a property purchase is a common way parents support their offspring in securing a home ... Do You Need To Make A Voluntary Disclosure To HMRC? With the introduction of new computer systems, it is increasingly difficult to keep things hidden from HMRC ... Time is Running Out to Top Up Your State Pension As individuals approach their retirement years, the importance of a robust financial plan becomes paramount ... Writing Life Insurance in Trust Can Benefit Your Estate Inheritance Tax (IHT) is a complex and often daunting subject for many individuals and families ... ATED: Annual Tax On Enveloped Dwellings Deadline Are you due to submit your Annual Tax on Enveloped Dwellings (ATED) soon? You may need to even with no tax due ... Don’t Miss Out on Your Tax Free Allowances As the final weeks of the 2024-25 tax year approach, taxpayers are aware of an impending deadline: the 5th of April ... Many Electric Vehicle Owners Unaware of Looming Road Tax EV ownership is set to undergo a transformation. Many EV owners are oblivious to a looming road tax bill ... Understanding Deeds of Variation Dealing with the loss of a loved one is never easy, especially when coupled with the complexities of managing an estate ... Inheritance Tax: Understanding Double Taxation Risks for Pensions The recent announcement regarding the treatment of pensions for Inheritance Tax purposes has significant implications for your financial planning. From April 2027 onwards, any unused pension pots and death benefits will form part of your estate, potentially exposing them to a hefty 40% IHT ... HMRC: Important Updates on Disguised Remuneration HMRC knows that navigating the complexities of taxation concerning the Loan Charge can feel overwhelming ... Understanding HMRC's Compliance Priorities For 2025 The fiscal landscape continues to shift under the new government, and HMRC will ramp up its investigations in 2025 ... HMRC Encourages Voluntary Disclosures for R&D Tax Relief Over-Claims There are concerns about inaccuracies with R&D tax relief claims, so HMRC has launched a new disclosure service ... HICBC: A Guide for Separated Families During separation, one financial aspect that often goes overlooked is the High-Income Child Benefit Charge ... Wishing You All A Very Merry Christmas With most of us finishing for the holidays this week, I thought I'd join the festivities and let you have some tax trivia ... A Strategic Approach to Cost Management Using Salary Sacrifice The increase in employers' national insurance contributions means it is crucial to explore salary sacrifice ... Double Cab PickUps Are Still Vans And Not Cars! Double cab pickups have long been a popular choice for many businesses, especially in farming and construction ... HMRC: Timely compliance is crucial for landlords In a recent advisory, HMRC emphasised the importance of compliance for landlords with unpaid tax ... Navigating the complexities of changing CGT rates The changes in CGT rates, as announced in Labour's first Budget, demand attention from business owners ... R&D Tax Relief: Common Pitfalls And How To Avoid Them The R&D tax relief scheme is designed to encourage innovation and support businesses that undertake qualifying research and development activities. Despite its noble intentions, many companies find themselves facing denied claims ... |
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