Your tax code determines how much tax is deducted from your pay. While 1257L is the most common, different letters and numbers can affect how much you owe. From marriage allowance to emergency codes, here’s how to decode what HMRC assigns you.
Your
From 6 April 2025, the remittance basis of taxation will be scrapped in favour of a residence-based system. A new 4-year Foreign Income and Gains regime offers tax relief for new arrivals, while transitional measures aim to ease the shift. Here’s
From 6 April 2025, employers will face a 1.2% rise in National Insurance contributions, alongside a lower NICs threshold. However, an increased Employment Allowance aims to ease the burden for small businesses. Here’s what you need to prepare for
If you are moving goods across borders, an EORI number may be essential for customs clearance. Whether trading with the EU, Northern Ireland, or beyond, knowing which type you need—GB, XI, or EU—can save time and hassle. Here’s what you
The UK government offers a robust safety net for savers through the Financial Services Compensation Scheme (FSCS). This scheme is designed to protect individuals, small businesses, and charities if a bank, building society, or credit union fails,
The Employment Appeal Tribunal (EAT) upheld claims of constructive dismissal and disability discrimination against Whyte & Mackay Limited (W&ML) in the case of Mr. Duployen , a former forklift truck and warehouse operator, following his
In a significant move to enhance trust in online reviews, Google has agreed to implement substantial changes to combat fake reviews, following an investigation by the UK’s Competition and Markets Authority (CMA). This initiative aims to ensure
Businesses can reclaim VAT on pre-registration expenses if they relate to taxable supplies made after VAT registration. The rules differ for goods and services, with time limits of 4 years for goods and 6 months for services. Proper understanding
The 2023 Revaluation updates business property rateable values, based on April 2021 valuations. While challenges are open until March 2026, beware of false claims about earlier deadlines and unscrupulous agents pushing for quick decisions or upfront
Business Asset Rollover Relief allows you to defer Capital Gains Tax (CGT) when reinvesting proceeds from selling business assets. By rolling gains into the cost of new assets, tax is postponed until the new asset is sold. Learn how this relief can
Owning more than one property? You can claim Capital Gains Tax (CGT) relief on just one at a time. By formally electing your main residence within two years of property changes, you can optimise your CGT exemption and make the most of key tax
Unpaid debts can put a limited company at risk of a winding-up petition, potentially leading to liquidation. Creditors may act via court judgments or statutory demands, forcing companies to settle debts. Learn how this process works and the
Gift Aid transforms charitable donations by allowing charities and CASCs to claim 25p extra for every £1 given—at no additional cost to you. Higher and additional rate taxpayers can also claim valuable tax relief, making giving even more
Navigating financial challenges can be daunting, but understanding the tools available can make a significant difference. One such tool is a Debt Management Plan (DMP), designed to help individuals regain control over their finances.
What is a Debt
Making a significant investment in new equipment can be a transformative step for a business, improving efficiency, productivity, and competitiveness. However, such a decision requires careful planning and analysis to ensure the investment aligns
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