Your UK residence status affects how much tax you pay in the UK and, in particular, whether your foreign income and gains are subject to UK tax. In simple terms, UK residents are normally taxed on their worldwide income and gains, while
Depending on your income and circumstances, you may need to register for self-assessment. This may be the case even if most of your income is taxed through PAYE. You will usually need to file a self-assessment tax return if you are self-employed as
The tax treatment of termination payments is governed by a detailed set of rules that determine how much is taxable and whether National Insurance contributions apply. The structure of a termination package can have a significant impact on the final
Many small business owners are already feeling the effects of rising staffing costs, tighter recruitment conditions and increased administration. Recent employment law changes are now adding further pressure, particularly for employers that do not
Cyber security is no longer a concern limited to large corporations. Increasingly, smaller businesses are finding themselves targeted by phishing attacks, payment frauds and ransomware incidents, many of which are becoming more sophisticated through
Many taxpayers are surprised to learn that once their income exceeds £100,000, they can face an effective tax rate of 60%, although officially, no such rate appears to exist. This happens when the personal allowance (currently £12,570) is gradually
Dividends are taxed differently from other types of income, with separate allowances and tax rates that depend on your overall level of income. You do not pay tax on dividends that fall within your Personal Allowance (2026-27: £12,570), and there is
How capital gains are linked with Income Tax is important to understand as your overall income position affects the Capital Gains Tax (CGT) rate you pay. CGT interacts directly with your Income Tax band. Your taxable income is first calculated after
National Insurance contributions that relate to employee benefits are known as Class 1A National Insurance contributions. Employers must pay these National Insurance contributions on most work-related benefits provided to employees, such as a company
Most self-employed people are required to pay Class 4 National Insurance contributions (NICs). Class 4 NICs are payable if their profits are £12,570 or more a year. Class 4 NIC rates are currently 6% for chargeable profits between £12,570 and
By continuing to use the site, you agree to the use of cookies. More information
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.
