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Overseas Workday Relief

Overseas Workday Relief

Earnings from employment that you earn in a year for which you are resident in the UK are taxable in the UK when you receive those earnings. During the tax year, the earnings which relate to duties you perform overseas in that year are foreign earnings if: you’re not...
NICs changes to start from January 6

NICs changes to start from January 6

Just a quick reminder that the reduction of Class 1 National Insurance Contributions (NICs) will begin on January 6, 2024. From this date, the amount paid on Class 1 NICs will fall from 12% to 10%. This is the main rate of NICs paid by employees through PAYE. The...
Self Assessment Tax Return for the year 2022-23

Self Assessment Tax Return for the year 2022-23

Do you need to complete a Self-Assessment tax return this year? Taxpayers may need to complete a tax return if they: Are newly self-employed and have earned more than £1,000. Have multiple sources of income. Have received any untaxed income, for example earning money...