A recent poll suggests a lot of adults in the UK do not understand how income tax works. It is important to know how income tax works, as it might affect decisions you make in relation to work or your finances. In this article we try to demystify Scottish income tax and how different rates apply to ...
HMRC are currently sending out P800 tax calculations to certain people who paid tax under Pay As You Earn in the 2023/24 tax year. If you receive a P800 showing that you have paid too much tax, you will be due a repayment. But beware – the way HMRC issue repayments to most people has recently ...
Some parents and carers who claimed child benefit before May 2000 may have missed out on Home Responsibilities Protection (HRP), a scheme designed to protect their state pension entitlement. HMRC are writing to people who they think might be affected to explain how they can check and claim for ...
HMRC are sending simple assessment letters to about 560,000 taxpayers over the next few months. This number includes 140,000 pensioners. For many, this will be the first time they have received a simple assessment letter.In this article, we explain more about simple assessment and what you need to ...
Not everyone that works through their own limited company is a high earner. If you have a lower income, have a fall in income or are unable to work for the moment, you may need to make a claim for universal credit. If you are in this situation, read on.
Taxes are an integral part of our lives; most of us pay tax, whether income tax, council tax or VAT on things we buy. Taxes also play an important role in shaping the infrastructure of our society. Yet, there is sometimes a lack of understanding and awareness of taxes and how the tax system works ...