Letters What they mean L You’re entitled to the standard tax-free Personal Allowance M Marriage Allowance: you’ve received a transfer of 10% of your partner’s Personal Allowance N Marriage Allowance: you’ve transferred 10% of your Personal Allowance to your partner T Your tax code includes other calculations to work out your Personal Allowance 0T Your Personal Allowance has Read more about Tax Codes[…]
From April 2020 HMRC is changing the rules related to the submissions of information and payment of Capital Gains Tax (CGT) due on the disposals of a UK residential property (other than a principle private residence). The tax due must be reported and paid to HMRC within 30 days of completion of the disposal. Non-UK Read more about Capital Gains Tax Payment for Property Disposals[…]
Code Description Section A Agriculture, Forestry and Fishing 01110 Growing of cereals (except rice), leguminous crops and oil seeds 01120 Growing of rice 01130 Growing of vegetables and melons, roots and tubers 01140 Growing of sugar cane 01150 Growing of tobacco 01160 Growing of fibre crops 01190 Growing of other non-perennial crops 01210 Growing of Read more about Standard industrial classification of economic activities (SIC)[…]
Who is likely to be affected Individuals that receive rental income on residential property in the UK or elsewhere and incur finance costs (such as mortgage interest), excluding where the property meets all the criteria to be a furnished holiday letting. General description of the measure This measure will restrict relief for finance costs on Read more about Restricting finance cost relief for individual landlords[…]
The Rent a Room Scheme lets you earn up to a threshold of £7,500 per year tax-free from letting out furnished accommodation in your home. This is halved if you share the income with your partner or someone else. You can let out as much of your home as you want. How it works The Read more about The Rent a Room Scheme[…]