Understanding the £100,000 Tax Trap in the UK Earning £100,000 or more is often seen as a sign of career success. However, in the UK tax system, crossing this threshold can trigger a series of hidden costs that significantly reduce your take-home pay. This is why the £100,000 income level is commonly referred to as […]
Introduction: What the Budget Means for Savers The Chancellor’s latest Budget has delivered disappointing news for UK savers. From 6 April 2027, tax on savings income will increase, and the rules around cash ISAs will become more restrictive for many individuals. These changes could significantly affect how savers manage their money and plan for the future. Understanding the […]
The Decline of Paper Receipts It has become increasingly common for shops and restaurants to ask customers, “Do you want a receipt?” Saying no may feel like an environmentally friendly choice, but for business customers, this can be a costly mistake. While individuals do not usually need receipts for personal purchases—since consumer rights remain valid […]
Selling a buy-to-let property has become a common choice for many landlords, especially with recent tax changes and the reduced protections introduced under the Renters’ Rights Bill. But in today’s slower buyer’s market, the sale process may take several months — and during this waiting period, landlords often continue to incur various expenses. Whether these […]
Proposed IHT Changes for Pension Pots The government has released draft legislation for the upcoming Finance Bill that could bring unused pension pots within the scope of inheritance tax (IHT) starting 6 April 2027. Naturally, this has prompted many savers to wonder — should I withdraw my pension now to avoid the potential tax hit later? Before rushing into […]
When Tenants Refuse to Leave For many landlords, few situations are more stressful than dealing with tenants who refuse to vacate a property — even after being served a valid Section 21 or Section 8 notice. Unfortunately, this leaves landlords with no choice but to go through the eviction process, which involves both time and […]
When renting out a property, landlords usually request a deposit from tenants — often called a security deposit, damage deposit, or rental deposit — to cover potential property damage or unpaid rent. In some cases, a holding deposit is also taken to temporarily reserve the property while paperwork is processed.Knowing how to correctly handle these deposits for tax purposes is essential for landlords. […]
Introduction Umbrella companies are often used by recruitment agencies to pay temporary or contract workers. While many operate legitimately, a growing number are involved in tax avoidance and non-compliant schemes. To protect workers, HMRC is increasing efforts to tackle umbrella company fraud — including publishing Spotlight 71, which outlines key warning signs to watch out for. If you’re […]
New IHT Rules for Unused Pension Benefits from April 2027 From 6 April 2027, inheritance tax (IHT) will apply to unused pension funds and death benefits left in an estate. Announced in the Autumn 2024 Budget, this change will increase the IHT burden on estates where pension wealth is passed on after death and not fully sheltered by available […]
VAT Adjustments: Understanding Payback and Clawback Rules Even with the best planning, business intentions can change — and with VAT, that means adjustments may be needed. HMRC’s “payback and clawback” rules ensure VAT claims reflect actual use, not just initial intentions. These rules only affect input tax (VAT on purchases), and can require businesses to either reclaim more VAT […]