Did you know that some UK taxpayers have reported waiting nearly 4 months to receive their tax refunds after submitting their returns online? This unexpected delay highlights the critical need for clarity on HMRC’s (Her Majesty’s Revenue and Customs) tax return processing times. Whether you’re a sole trader filing a Self Assessment or simply curious […]
According to the latest figures, if you pay your Council Tax in 10 instalments, you can enjoy a two-month break from your bill in February and March. These are the traditional council tax-free months for millions of households across the United Kingdom. However, the exact payment schedule depends on the arrangement you have set up […]
£2.4 billion – that’s the staggering amount of overpaid tax refunded by HM Revenue and Customs (HMRC) in the UK each year. If you’ve found yourself on an emergency tax code, you may be among those entitled to reclaim a portion of this substantial sum. Understanding how to navigate the process of claiming back emergency […]
Did you know that over 7 million households in the UK are occupied by a single person? That’s a staggering 28% of all households, highlighting the prevalence of single-occupancy living arrangements across the country. For these individuals, understanding the intricacies of council tax and the available single person discounts is crucial. After all, the cost […]
Did you know that income tax accounts for over 45% of the total government revenue in the United Kingdom? Income tax is a crucial part of the UK’s tax system, generating significant funds that support public services and government programs. Understanding how income tax works is essential for individuals in the UK to navigate the […]
Did you know that the tax year in the UK doesn’t align with the calendar year? In fact, the tax year starts on April 6th and ends on April 5th of the following year. This is known as the fiscal year or the financial year. Understanding the tax year is crucial for individuals and businesses […]
Working Tax Credit is a government benefit in the United Kingdom that provides financial support to eligible workers and families. It is designed to boost the income of low-income individuals and households and provide additional financial assistance for childcare expenses. Introduction to Working Tax Credit Working Tax Credit is a means-tested benefit that offers financial […]
Are you a parent looking to save some money on your taxes? Then you’ve come to the right place! In this blog post, we will dive into the topic of child tax credit – what it is, how it works, and how you can take advantage of this valuable benefit. So grab a cup of […]
Did you know that Capital Gains Tax in the UK generated £9.5 billion in revenue for the government in the 2020/2021 tax year alone? That’s a staggering amount of money collected from the sale of assets. But what exactly is Capital Gains Tax and how does it work? Let’s dive into the details and explore […]
Did you know that inheritance tax in the United Kingdom generated £5.3 billion for the government in the 2019-2020 tax year? This surprising statistic highlights the significant impact inheritance tax has on the finances of individuals and families. If you’re wondering about the amount of inheritance tax you may be liable for or want to […]