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When is corporation tax due?

Understanding when corporation tax is due is important if you want to stay compliant and avoid any HMRC penalties.

Pay wars – magic circle salaries and what it means for tax

If someone told you that you could get a job post-graduation that’d give you a £100k+ a year salary, would you know the tax implications?

Pension

A pension is a tax-efficient way of saving for when you retire from work. There are different types available, dependent on circumstances.

Bye-bye High Income Child Benefit tax charge

Have you been caught out before by the High Income Child Benefit tax charge? Well, we've got good news! Things are about to change!

Can I expense my bed and pillows?

For any of us that needs to do a tax return, you’ll know that one of the important parts of the process is claiming back your business expenses.

How common is celebrity tax evasion?

Celebrity tax evasion is a phrase that's pretty common. But you’d think that they would be able to pay their taxes without any issues, right?

Accountant – Page 7 of 11 – TaxScouts Taxopedia

An accountant is someone who helps businesses and individuals to stay on top of their financial affairs. There’s a wide range of practices.

The Property Income Allowance: worth claiming?

As a landlord, you can get up to £1,000 rental income tax-free every year. Check if you could be claiming more.

Is TaxScouts legit?

There are so many online scams that our well-priced tax return service might seem too good to be true. But it’s not. But it's not...

Side gig

A side gig is a job that you do alongside your normal employment. And they're becoming increasingly popular with workers in the UK.

What are the different VAT schemes?

There are different VAT schemes available: flat rate, cash accounting, margin, and retail schemes, each designed to simplify VAT management!

P45 – Page 7 of 11 – TaxScouts Taxopedia

A P45 is a form that your employer has to give you when you're leaving your job. You'll need one if you're starting a new job or filing a Self Assessment.

Self-employed and need an invoice generator?

An invoice generator is a program or software that can create an invoice for you. Now, you barely have to lift a finger!

UK income tax rates for tax year 2021/2022

Your earnings below £12,570 were tax free. This is called the Personal Allowance. Read more about the 2021/22 Income Tax rates here.

Company director – TaxScouts Taxopedia

A company director is a registered director of a limited company. As director, you have to register with Companies House to occupy the role.

Pro rata – Page 7 of 11 – TaxScouts Taxopedia

Simply put, pro-rata is a Latin term which means proportional. Think pie charts. It’s commonly used when talking about part-time work.

Free online invoicing made easy with TaxScouts

Creating, personalising and sending invoices just got easier. With our invoice software, track your payments, get paid faster and never lose an invoice.

UK income tax rates for tax year 2016/2017

The UK income tax rates are revised each year as part of the UK budget. Find out what the income tax rates were for the tax year 2016/2017.

UK income tax rates for tax year 2015/2016

The UK income tax rates are revised each year as part of the UK budget. Find out what the income tax rates were for the tax year 2015/2016.

Link your bank account with free bookkeeping software- TaxScouts

Connect your bank account and pull your business spending directly. Spend less time on admin and more time making your money sparkle.

File your Tax Returns Online - Easy to use Platform - TaxScouts

Get matched with an accredited accountant to sort your UK tax returns. Simple, fast, all online. File your self assessment today.

Income tax rates in the UK

The income tax rates in the UK depend on how much you earn per year. The basic rate is 20%, and increases to 40% and then to 45%.

What is £150,000 after tax?

You might be shocked at how much money is left over after taxes when you make more than £100,000, you enter a 60% tax trap.

What can I expense as a freelance graphic designer?

As a freelance graphic designer, and a sole trader in general, you’re can reduce your overall tax bill by deducting your business expenses.

UK income tax rates for tax year 2017/2018

The UK income tax rates are revised each year as part of the UK budget. Find out what the income tax rates were for the tax year 2018/2019.

UK income tax rates for tax year 2022/2023

Your earnings below £12,570 were tax free. This is called the Personal Allowance. Read more about the 2022/23 Income Tax rates here.

SA100 HMRC form – Page 7 of 11 – TaxScouts Taxopedia

The SA100 HMRC form is the main way to file your tax return. Depending on why you need to file, you may need to add another form to it.

UK payslip – Page 7 of 11 – TaxScouts Taxopedia

A payslip is a note that your employer gives you when you've been paid. Here's what you can find on them and why they're important.

Credit record – Page 7 of 11 – TaxScouts Taxopedia

Your credit record, also known as your credit score or rating, is a number that banks use to figure out if a potential borrower is reliable.

UK income tax rates for tax year 2018/2019

The UK income tax rates are revised each year as part of the UK budget. Find out what the income tax rates were for the tax year 2018/2019.

Umbrella company – TaxScouts Taxopedia

An umbrella company is a business that can act as an employer to contractors, freelancers, and self-employed workers.

Crypto tax calculator

Interested in cryptocurrency? Want to know how much crypto tax you may have to pay? Well have a quick try of our crypto tax calculator here!

UK income tax rates for tax year 2019/2020

For tax year 2019/2020 the UK basic income tax rate was 20%. This increases to 40% for your earnings above £50,000.

The low-down on Income Tax in the UK for foreigners

If you’re planning on moving to the UK, listen up because we’re giving you the low-down on Income Tax in the UK for foreigners.

Gift Aid – TaxScouts Taxopedia

Gift Aid is a tax incentive that allows charities to claim back Income Tax (at the basic rate) on donations made through the scheme.

What are the Making Tax Digital penalties?

Wondering what the making tax digital penalties are? If you’ve missed the deadline and want to know what fines you face, here’s a rundown.

CIS workers vs PAYE: which is best?

Learn the key differences between CIS workers and PAYE, and how each payment method affects your tax and income.

Can I expense my mortgage?

If you work from home, you won’t be able to expense your mortgage because you’re already entitled to the simplified allowance.

The tax guide to sell on Etsy

Here's everything you need to know about your Etsy shop and tax. Who has to pay tax, what you should pay, and how much you may owe.

Up to 1 million freelancers will be overcharged tax in 2021 – could it be you?

You may have read our piece in the FT about the one million freelancers who could face being overcharged on their tax bills next year.

Get simple, one-off Tax Advice from an accredited accountant - TaxScouts

Got a tax-based problem? We can help. Get professional support & advice with any tax situation you're struggling with.

Seed Enterprise Incentive Scheme (SEIS) – TaxScouts Taxopedia

The Seed Enterprise Incentive Scheme (SEIS) is a tax relief that returns 50% of your investment if you invest in eligible new businesses.

Seafarer’s Earnings Deduction – TaxScouts Taxopedia

Seafarer's Earnings Deduction is a tax relief that allows people who work at sea to claim a 100% tax exemption on their foreign income.

Live-in landlord – TaxScouts Taxopedia

A live-in landlord is someone who rents out a part of their home to a “lodger”. You need to pay tax on this income – but the first £7,500 is tax-free.

Workplace pension – TaxScouts Taxopedia

A workplace pension is a way of saving for your retirement that’s arranged by your employer. You usually get tax relief automatically from it.

What is the SA370? – TaxScouts Taxopedia

The SA370 is a form that you can use if you filed your Self Assessment tax return late and want to appeal against the penalties.

Class 1 National Insurance – TaxScouts Taxopedia

Class 1 National Insurance is a tax that you pay when you’re employed. This is one of the four types of national insurance in the UK.

What are the tax implications of earning over £100K?

One of the major tax implications of earning over £100k is that you can get taxed 60%. Learn more about the implications to stay as tax-efficient as possible.

What is Tax-free income? – TaxScouts Taxopedia

Tax-free income is income that you earn on which you’re not liable to pay tax. There are lots of allowances that you can claim in the UK.

How does the Marriage Allowance work?

Are you married or in a civil partnership? You may be entitled to a £900+ tax refund - yet 1.2 million couples are still missing out.

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Tax guides and articles

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