Are you approaching the age of 18, or have you recently turned 18? You might have had a Child Trust Fund set up for you shortly after you were born. You are able to access this when you turn 18. Here we look at what Child Trust Funds are, and the various ways you can search for yours if you or your ...
If you are hiring a carer or personal assistant, whether funded through government money, or privately, you can use our new flowchart to help you work out what, if anything, you need to do about tax. For example, if you are hiring someone and the nature of the arrangement is an ‘employment’ you...
HMRC are currently sending tax credit claimants their annual renewal packs. The renewal process allows HMRC to finalise tax credit awards for the 2023/2024 year and set up new renewal claims for 2024/2025 (if appropriate). Universal credit is gradually replacing tax credits and so, like last year, t...
If you are struggling financially, you may be tempted to withdraw money from your pension to help you out. This may not always be a good idea. There is a minimum age to take money from a UK registered pension (usually 55). If you take money out sooner, you are likely to face large tax charges. The s...
Starting any new job can be daunting, but in flexible work, pay, tax or benefits can be more complicated than usual. Flexible working covers many different types of arrangements – temporary, casual, platform, contracting, flexitime, remote working etc. If you have any questions about your tax positi...
Readers have been contacting us as they aren’t sure whether they need to tell HMRC about income that they have received gross (without tax taken off before they get it). Unfortunately, there is no easy answer as there are different sets of criteria you need to consider. Also, the law and HMRC guidan...