by Ruth Clark | May 31, 2023 | Tax
The cost-of-living crisis is taking its toll across all areas of our lives now. While inflation has fallen very slightly this month to 8.7%, food prices remain stubbornly high, and the Bank of England (BoE) is expected to continue with its base rate rises until later...
by Ruth Clark | May 15, 2023 | Tax
It’s important to know if you’re a UK resident or not. This may affect: Your UK tax liability Your entitlement to Income Tax allowances and exemptions UK residence – Tax liability When you’re UK resident you’re normally taxed on the arising basis of taxation. This...
by Ruth Clark | May 10, 2023 | Tax
The Chancellor made some major changes to the pension rules in the March Budget, and one key amendment has made using something called ‘Carry Forward’ rules much more beneficial for pension savers. How does Carry Forward work? The Carry Forward rules allow you to use...
by Ruth Clark | May 3, 2023 | Business, Tax
The new tax year started on April 6 and while many people will wait until the last minute to maximise the tax benefits available to them, there is a lot to be said for starting your tax housekeeping sooner rather than later. There are many ways we can benefit from the...
by Ruth Clark | Apr 26, 2023 | Budget Announcement, Tax
Higher earners have been dealt a blow after the Chancellor changed the level at which the 45% additional rate of tax applies from £150,000 to £125,140. The move takes effect in the 2023/24 tax year and brings the threshold in line with the point at which the personal...
by Ruth Clark | Apr 24, 2023 | Tax
Working from home You may be able to claim tax relief for additional household costs if you have to work at home for all or part of the week. Who can claim tax relief You can claim tax relief if you have to work from home, for example because: Your job requires you to...
