What tax-free allowances do you have?

We've updated this guide on 29th July 2019

There are many tax-free allowances in the UK.

Taking advantage of them can significantly reduce your tax bill or increase your tax refund.

Some of them are automatic (you don’t need to do anything to use them), while others you need to claim.

You can click on each of these links to see how each works:

1. General tax-free allowances

Tax-free allowance How much is it? Do you need to apply for it?
The Personal Allowance £12,500 No
The Marriage Allowance £1,250 Yes
Blind Person’s Allowance £2,450 Yes

2. Self-employment allowances

Tax-free allowance How much is it? Do you need to apply for it?
The Trading Allowance £1,000 No, if you don’t earn more or Yes if you don’t claim other expenses
The Home Office Allowance Between £10 – £26 per month Only if you prefer it to claiming rent
The Mileage Allowance Between 24p to 45p per mile Only if you prefer it to claiming fuel, etc.

3. Property income allowances

Tax-free allowance How much is it? Do you need to claim it?
The Rental Income Allowance £1,000 Only if you don’t earn more or don’t claim expenses
The Rent a Room Scheme £7,500 Only if you qualify
The Private Residence Relief You don’t pay CGT when selling your home Only if you didn’t live in it for the entire duration

4. Investment allowances

Tax-free allowance How much is it? Do you need to claim it?
The Capital Gains Allowance £12,000 No
The Dividend Allowance £2,000 No
The Savings Interest Allowance Between £5,000 and £0 (depends on your Income Tax band) No

5. Other tax-free allowances:

Need help with your tax return?

Get your self assessment prepared for you online by certified accountants for £119

Online self assessment preparation assisted by professional accountants

How TaxScouts works

Simple online tax assessment

1. Simple online tax assessment

Our online tax-bot will go over your tax situation and will make sure you won’t overpay your taxes.

Chat to human advisors

2. Chat to human advisors

You can talk to one of our tax assistants at any time during the process when you have any questions.

We’ll sort your documents online

3. We’ll sort your documents online

We’ll tell you exactly what documents you need and sort them for you online. You just upload them or snap a picture with your phone.

Everything gets prepared for you

4. Everything gets prepared for you

Your certified accountant will go over your details & prepare your tax return for you to review. It will be filed on your behalf once you approve it.

"Very fast"
Very fast and gave good advice I will be using every year
Wayne L
"Smooth and easy process"
Smooth and easy process. Will use every year! Very helpful staff as well!
Oliver J W
"A quick and reliable service"
My self assessment tax return completed within 2-3 days. I'll definitely be using TaxScouts again and recommend to family and friends.
Munim

Who our service is for

First time tax filers

We have a simple online service that guides you through the entire process. Regardless of your reasons for doing your tax return we'll help you get it done right.

Construction workers

We'll prepare your self assessment and help to maximise your CIS tax refund. We have the lowest fees in the industry and you don't have to pay up front if you're eligible for a refund.

People living overseas

Our service allows people living abroad to prepare their income tax return online. We are able to process all returns regardless of your current country of residence.

Company directors

UK company directors are required to file their self assessment annually. TaxScouts handles this through a simple online process.

Landlords

Long Lets, Airbnb, Capital Gains. TaxScouts will sort out your self assessment and take away the worry of tracking all the recent tax changes.

Self-employed

TaxScouts ensures the self employed don't overpay on their taxes. We'll help you benefit from all the tax breaks and deductions that can be applied to your return.

And for everyone else who needs to do their self assessment

At TaxScouts we appreciate that tax returns are highly individual. Before you get assigned an accountant we make sure to understand your circumstances and help you build your optimal tax profile.





Let's start by creating your account

What happens next

  • We'll ask you a couple of short questions
  • Then we'll tell you what documents we need
  • Finally one of our qualified accountants will file your tax return