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All of the latest tax and finance information

Residence, domicile, and the remittance basis

It’s important to know if you’re a UK resident or not. This may affect: Your UK tax liability Your entitlement to Income Tax allowances and exemptions UK residence – Tax liability When you’re UK resident you’re normally taxed on the arising basis of taxation. This...

Pension Carry Forward rules are now more beneficial

The Chancellor made some major changes to the pension rules in the March Budget, and one key amendment has made using something called ‘Carry Forward’ rules much more beneficial for pension savers. How does Carry Forward work? The Carry Forward rules allow you to use...

Apprenticeship Levy

The Apprenticeship Levy was first announced in the Summer Budget 2015 and it was later confirmed in the Autumn Statement 2015 that the levy would be introduced from 6 April 2017. Primary legislation was subsequently included in the Finance Act 2016, Pt. 6 (s. 98 - s....

Make the most of the new tax year by acting now

The new tax year started on April 6 and while many people will wait until the last minute to maximise the tax benefits available to them, there is a lot to be said for starting your tax housekeeping sooner rather than later. There are many ways we can benefit from the...

Travel Expenses Claim

When travel & subsistence qualifies for tax relief The term ‘travel expenses’ includes the actual costs of travel together with any subsistence expenditure and other associated costs that are incurred in making the journey. Travel in the performance of the...

Highest rate of tax will be paid by more people after the top threshold is reduced in the Budget

Higher earners have been dealt a blow after the Chancellor changed the level at which the 45% additional rate of tax applies from £150,000 to £125,140. The move takes effect in the 2023/24 tax year and brings the threshold in line with the point at which the personal...