When I noticed a change in my tax code on my payslip, it immediately caught my attention, especially because my take-home pay had dropped. Seeing my tax code move from 1250L to 1185L was unexpected, as I hadn’t changed jobs,…
If you’re employed or receiving a pension in the UK, your tax code plays a vital role in determining how much tax is deducted from your income. However, tax codes can sometimes be wrong, which may lead to overpaying or…
From 6 April 2025, the UK introduced major reforms to how foreign income is taxed, particularly affecting new residents and non-domiciled individuals. With the previous remittance basis replaced by a residence-based model, understanding how much foreign income is tax free…
Understanding untaxed interest is essential for anyone managing personal finances in the UK. When you receive a letter from HMRC referring to “untaxed interest,” it typically highlights income from savings or investments that has not had tax automatically deducted. While…
Rachel Reeves’ recent approval of sweeping tax reforms marks a turning point for UK savers. With a sharp focus on boosting revenue and closing tax loopholes, her crackdown will see banks sharing customer data directly with HMRC. From April 2027,…
Working for someone on a self-employed basis in the UK blends autonomy with responsibility. It means you’re not tied to one employer as an employee but provide services as a separate business entity. While this structure offers flexibility, tax efficiency,…
When it comes to navigating the ever-evolving world of tax regulations and Universal Credit, staying informed is crucial. With new policies and changes introduced frequently, it’s essential to have access to accurate, timely, and actionable information. That’s where Universal Credit…