Taking on a second job is more common than ever. In fact, over 1.3 million people in the UK now work two jobs. However, you need extra cash to cover rising bills or simply want to earn more, one question always comes up: do you get taxed more on a.....
Getting a pay rise feels great. But then someone mentions the “40% tax bracket,” and the worry starts. Many people think they will lose nearly half their income to HMRC. That is not true. The 40% tax bracket is the UK’s higher rate tax band, covering taxable income between £50,271.....
Hiring your first employee feels like a big milestone. But with it comes a legal responsibility most new employers are not fully prepared for. PAYE, which stands for Pay As You Earn, is HMRC’s system for collecting income tax and National Insurance contributions from employees through their wages before they.....
You sold a second home. You cashed in some shares. You made a profit on an asset. Now HMRC wants a cut. Capital gains tax (CGT) is a tax on the profit you make when you sell or dispose of an asset that has gone up in value. It is.....
If you run a construction business in the UK, one question comes up again and again. Should you pay your workers through CIS or PAYE? It sounds simple. But the wrong choice can cost you money, lead to HMRC penalties, and cause real headaches down the line. The Construction Industry.....
A lot of limited company directors get their first corporation tax bill and feel completely lost. The numbers make sense, but the rules behind them do not. Here is something worth knowing: corporation tax is the tax UK limited companies pay on their annual profits. HMRC charges it on trading.....
