Posted in Income Tax
If you are a landlord, it is important that you are aware of expenses you can and cannot claim from your rental income. As a rule, these expenses must be wholly and exclusively for the purposes of renting out the property in question. In some
Continue readingPosted in Income Tax
The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home. The current tax-free threshold of £7,500 per year has been in place since 6 April 2016. Homeowners using this scheme should ensure that rents
Continue readingPosted in Income Tax
Income Tax is generally payable on taxable income received by individuals including earnings from employment, earnings from self-employment, pensions income, interest on most savings, dividend income, rental income and trust income. The tax rules for
Continue readingPosted in Income Tax
As the school holidays fast approach, many parents face having to organise extra school holiday childcare over the summer months.
HMRC is reminding working families that the Tax-Free Childcare (TFC) scheme can help if you have children aged up to
Continue reading