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The Property Income Allowance: worth claiming?

As a landlord, you can get up to £1,000 rental income tax-free every year. Check if you could be claiming more.

UK income tax rates for tax year 2023/2024

Your earnings below £12,570 were tax free. This is called the Personal Allowance. Read more about the 2023/24 Income Tax rates here.

Pay wars - magic circle salaries and what it means for tax – Page 7 of 10 – Taxfix (Formerly Taxscouts)

If someone told you that you could get a job post-graduation that’d give you a £100k+ a year salary, would you know the tax implications?

Self-employed and need an invoice generator? – Page 7 of 10 – 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!

I've not done a tax return for 20 years – Page 7 of 10 – 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.

Ethereum – Taxfix Taxopedia

Ethereum is one of the most popular types of blockchain software, powered by a crypto called ether. If you earned ethers, you might owe tax.

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.

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.

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.

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.

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 10 – 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.

How common is celebrity tax evasion? – Page 7 of 10 – 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?

Umbrella company – Taxfix Taxopedia

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

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 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!

Income Tax rates in the UK – Page 7 of 10 – Taxfix (formerly TaxScouts)

The income tax rates in the UK depend on how much you earn per year. The basic rate is 20%, and increases to 40% and then to 45%.

Welsh rates of Income Tax – Taxfix Taxopedia

Since 6th April 2019, Welsh rates of Income Tax have been determined by the Welsh government instead of England’s. Here are the details.

Capital Allowances – Taxfix Taxopedia

Capital allowances can be used to claim tax relief on things that have been bought for business use e.g. equipment, vehicles, and R&D costs.

P45 – Page 7 of 10 – 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.

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.

The low-down on Income Tax in the UK for foreigners – Page 7 of 10 – 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.

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.

Pro rata – Page 7 of 10 – 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.

Do you need to keep receipts for tax purposes? – Page 7 of 10 – 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?

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.

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.

SA100 HMRC form – Page 7 of 10 – Taxfix Taxopedia

The SA100 HMRC form is the main way to file your tax return. Depending on why you need to file, you may need to add another form to it.

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.

What is the tax year? – Page 7 of 10 – 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.

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.

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.

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.

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.

How do I claim EIS loss relief?

EIS loss relief is a type of relief available when you sell your shares at a loss and you can claim it on your Self Assessment.

Why become a freelance translator? – Page 7 of 10 – 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.

What are the CFD trading tax implications?

You can create a diverse investment portfolio with CFDs, but it’s important to consider their tax implications. Here’s an easy guide that explains it all.

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.

Tax guide to buying crypto (UK) – Page 7 of 10 – Taxfix (formerly TaxScouts)

If you’re thinking about buying crypto, before you dabble in the world of digital currency, here's your tax guide to buying crypto in the UK!

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.

Employee – Page 7 of 10 – Taxfix Taxopedia

An employee is someone who works under an employment contract. Usually your employer pays your taxes, but you may need to file a tax return.

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.

Offshore account – Page 7 of 10 – Taxfix Taxopedia

Offshore is an accounting term for "abroad" or "overseas". If you're a UK tax resident, you declare your offshore gains and income to HMRC.

Busting Taxfix myths: are the rumours true?

You might have heard a myth or two about Taxfix. It’s time to get down to the real matter at hand - the truth.

Living abroad and UK tax – Page 7 of 10 – Taxfix (formerly TaxScouts)

Are you living abroad but have a business in the UK? We’re dishing out everything you need to know about living abroad and UK tax!

Non-domiciled – Page 7 of 10 – Taxfix Taxopedia

A non-domiciled person is someone living in the UK whose permanent home is not here. There are some tax pros and cons to their situation.

Free bookkeeping tools to keep track of your finances – Taxfix

With our free bookkeeping tools, keeping track of your finances just got a whole lot easier. Welcome to the world of free bookkeeping.

How to add joint ownership of property details to your tax return – Page 7 of 10 – Taxfix (formerly TaxScouts)

If you and your partner have joint ownership of property that you rent out together, each of you will have to complete a tax return.

What is a HENRY? – Page 7 of 10 – Taxfix

‘HENRY’ stands for High Earner Not Rich Yet. It's a term that refers to people who are high earners, but who don’t have any wealth saved up.

How to use the Government Rent a Room Scheme

If you rent out a portion of your own house, you could earn up to £7,500 per year tax-free thanks to the Government Rent a Room Scheme.

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