The Personal Allowance is the amount of tax-free income everyone in the UK is entitled to receive each year. The current amount is £12,500.
Something important to keep in mind: if you earn over £100,000 per year, your Personal Allowance is reduced by £1 for every £2 over £100,000. Once your income reaches £125,000, your Personal Allowance goes to £0. In other words, your tax rate for the income between £100,000 and £125,000 is 60%.
That’s right. No matter how complicated it gets or why you need to do a return in the first place, it’ll cost £119 to get it done. That includes VAT, last-minute changes and all the support you may need.
And we mean a few. After a couple of minutes of answering questions online we’ll have everything we need to start working on your tax return.
That’s right, you’ll be matched with a real accountant who is best suited to prepare your return. Plus, they’re on hand for questions whenever you need.
Once you’ve signed off your return, your TaxScouts accountant will file your return online with HMRC. That’s it! We told you it was simple.