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UK income tax rates for tax year 2022/2023

Your earnings below £12,570 were tax free. This is called the Personal Allowance. Read more about the 2022/23 Income Tax rates here.

Gift Aid – Taxfix Taxopedia (formerly TaxScouts)

Gift Aid is a tax incentive that allows charities to claim back Income Tax (at the basic rate) on donations made through the scheme.

Umbrella company – Taxfix Taxopedia

An umbrella company is a business that can act as an employer to contractors, freelancers, and self-employed workers.

Subcontractor – Taxfix Taxopedia

A subcontractor is a person or a business who is hired by a contractor to work on individual jobs that form a larger project.

Company director – Taxfix Taxopedia

A company director is a registered director of a limited company. As director, you have to register with Companies House to occupy the role.

How common is celebrity tax evasion? – Page 7 of 11 – Taxfix (formerly TaxScouts)

Celebrity tax evasion is a phrase that's pretty common. But you’d think that they would be able to pay their taxes without any issues, right?

What can I expense as a freelance graphic designer?

As a freelance graphic designer, and a sole trader in general, you’re can reduce your overall tax bill by deducting your business expenses.

Link your bank account with free bookkeeping software - Taxfix (formerly TaxScouts)

Connect your bank account and pull your business spending directly. Spend less time on admin and more time making your money sparkle.

What is £150,000 after tax?

You might be shocked at how much money is left over after taxes when you make more than £100,000, you enter a 60% tax trap.

Exotic dancer tax deductions

As a self-employed exotic dancer, the tax deductions that you can claim may vary. You are in charge of declaring your income to HMRC.

What are the different VAT schemes?

There are different VAT schemes available: flat rate, cash accounting, margin, and retail schemes, each designed to simplify VAT management!

UK income tax rates for tax year 2019/2020

For tax year 2019/2020 the UK basic income tax rate was 20%. This increases to 40% for your earnings above £50,000.

The low-down on Income Tax in the UK for foreigners – Page 7 of 11 – Taxfix (formerly TaxScouts)

If you’re planning on moving to the UK, listen up because we’re giving you the low-down on Income Tax in the UK for foreigners.

Credit record – Page 7 of 11 – Taxfix Taxopedia

Your credit record, also known as your credit score or rating, is a number that banks use to figure out if a potential borrower is reliable.

Side gig

A side gig is a job that you do alongside your normal employment. And they're becoming increasingly popular with workers in the UK.

P45 – Page 7 of 11 – Taxfix Taxopedia

A P45 is a form that your employer has to give you when you're leaving your job. You'll need one if you're starting a new job or filing a Self Assessment.

Crypto tax calculator

Interested in cryptocurrency? Want to know how much crypto tax you may have to pay? Well have a quick try of our crypto tax calculator here!

I've not done a tax return for 20 years – Page 7 of 11 – Taxfix (formerly TaxScouts)

First and foremost, don’t panic. If you’ve not done a tax return for a long time, whether that’s three years, five years or more, all is not lost.

Free accounting software to automate your finances - Taxfix (formerly TaxScouts)

Get a full 360° accounting overview of your money so you can be more efficient and ready for tax season.

UK payslip – Page 7 of 11 – Taxfix Taxopedia

A payslip is a note that your employer gives you when you've been paid. Here's what you can find on them and why they're important.

Do you need to keep receipts for tax purposes? – Page 7 of 11 – Taxfix (formerly Taxscouts)

If you're self-employed, you know its important to keep track of invoices for tax purposes, but do you also need to retain receipts?

UK income tax rates for tax year 2017/2018

The UK income tax rates are revised each year as part of the UK budget. Find out what the income tax rates were for the tax year 2018/2019.

UK income tax rates for tax year 2021/2022

Your earnings below £12,570 were tax free. This is called the Personal Allowance. Read more about the 2021/22 Income Tax rates here.

How to calculate the self-employed break-even formula – Page 7 of 11 – Taxfix (formerly TaxScouts)

The break-even formula is used to calculate the point at which a business' profits are equal to its costs.

Pro rata – Page 7 of 11 – Taxfix Taxopedia

Simply put, pro-rata is a Latin term which means proportional. Think pie charts. It’s commonly used when talking about part-time work.

Free online invoicing made easy with Taxfix (formerly TaxScouts)

Create, personalise and send invoices. With our invoice software, track your payments, get paid faster and never lose an invoice.

UK income tax rates for tax year 2016/2017

The UK income tax rates are revised each year as part of the UK budget. Find out what the income tax rates were for the tax year 2016/2017.

Self-employed and need an invoice generator? – Page 7 of 11 – Taxfix (formerly TaxScouts)

An invoice generator is a program or software that can create an invoice for you. Now, you barely have to lift a finger!

What is the tax year? – Page 7 of 11 – Taxfix (formerly TaxScouts)

What is the tax year and why on earth does it start in early spring? This article goes through the history and the dates to work from.

CIS workers vs PAYE: which is best?

Learn the key differences between CIS workers and PAYE, and how each payment method affects your tax and income.

The tax guide to sell on Etsy

Here's everything you need to know about your Etsy shop and tax. Who has to pay tax, what you should pay, and how much you may owe.

What are the Making Tax Digital penalties?

Wondering what the making tax digital penalties are? If you’ve missed the deadline and want to know what fines you face, here’s a rundown.

Can I expense my mortgage?

If you work from home, you won’t be able to expense your mortgage because you’re already entitled to the simplified allowance.

Seafarer’s Earnings Deduction – Taxfix Taxopedia

Seafarer's Earnings Deduction is a tax relief that allows people who work at sea to claim a 100% tax exemption on their foreign income.

How does the Marriage Allowance work?

Are you married or in a civil partnership? You may be entitled to a £900+ tax refund - yet 1.2 million couples are still missing out.

What are the tax implications of earning over £100K? – Page 7 of 11 – Taxfix (formerly TaxScouts)

One of the major tax implications of earning over £100k is that you can get taxed 60%. Learn more about the implications to stay as tax-efficient as possible.

What is the SA370? – Taxfix Taxopedia

The SA370 is a form that you can use if you filed your Self Assessment tax return late and want to appeal against the penalties.

Live-in landlord – Taxfix Taxopedia

A live-in landlord is someone who rents out a part of their home to a “lodger”. You need to pay tax on this income – but the first £7,500 is tax-free.

How do I set up my HMRC Personal Tax Account? – Page 7 of 11 – Taxfix (formerly TaxScouts)

Create an HMRC Personal Tax Account to review your tax, file your tax returns, and to claim refunds. Here's how to do it quickly.

What is Tax-free income? – Taxfix Taxopedia

Tax-free income is income that you earn on which you’re not liable to pay tax. There are lots of allowances that you can claim in the UK.

Workplace pension – Taxfix Taxopedia

A workplace pension is a way of saving for your retirement that’s arranged by your employer. You usually get tax relief automatically from it.

Why become a freelance translator? – Page 7 of 11 – Taxfix (formerly TaxScouts)

Deciding whether to be a freelance translator is a big consideration. Whilst the freedom may be tempting,you should know what you’re getting yourself into.

Class 1 National Insurance – Taxfix Taxopedia

Class 1 National Insurance is a tax that you pay when you’re employed. This is one of the four types of national insurance in the UK.

What is CGT for businesses?

CGT for businesses is a tax on profits from selling assets. Companies pay via Corporation Tax; shareholders may owe CGT on personal gains.

Why is my personal allowance less than £12,570?

Wondering why is my personal allowance less than 12,570? Learn about income thresholds, tax returns, and what happens if you miss deadlines.

How to claim the home as office allowance

Working from home and self-employed? You may be able to claim the home as office allowance - a simple tax-free allowance. Find out more here.

Venture Capital Trust (VCT) – Taxfix Taxopedia

A Venture Capital Trust (VCT) is an investment fund that invests in small and early stage businesses. They get you 30% income tax relief.

Seed Enterprise Incentive Scheme (SEIS) – Taxfix Taxopedia

The Seed Enterprise Incentive Scheme (SEIS) is a tax relief that returns 50% of your investment if you invest in eligible new businesses.

Taxopedia

Cut the jargon with our Taxopedia - understand those all-important tax terms in plain and simple language..

What is a teacher tax rebate?

Learn how to claim a teacher tax rebate in the UK, discover eligible expenses, and find out how to apply for your refund.

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