UK Tax Allowances News
Is the SEISS Payment Taxable?
During the covid-19 pandemic the government announced a number of schemes to help people financially who were suffering a loss…
Inheritance Tax Increase 2020/21
In 2015 the Chancellor of the Exchequer, George Osborne, announced a major change in Inheritance tax which added on an…
Self Employed NI Rates 2019/20
Although not technically a tax allowance, we thought it was worth covering what the rate of National Insurance contributions are…
Changes to Rent a Room Rules
There are changes in the rules to rent-a-room relief coming on 6th April. There are some changes coming to the…
Capital Gains Tax (CGT) Allowance 2019/20
The Capital Gains Tax (CGT) annual exempt amount is the amount of gains that you are allowed to make before…
2019 Personal Allowance
In the 2019 Budget today Philip Hammond announced changes to the personal allowance for 2019/20. It had previously been announced…
Class 2 NI Change Shelved
In 2016 the government announced a change to the calculation of self-employed NI contributions. This change meant that Class 2…
What Does Tax Code NT Mean?
Tax Code NT Each person in in the UK is assigned a tax code for each tax year, whether that…
How Much do I Need to Earn to Pay 40% Tax?
Currently the higher rate of tax for those who earn a certain amount stands at 40%. So you may wonder…
What Does Tax Code BR Mean?
If you have been given a tax code notice and you are wondering 'what does tax code BR mean?' then…