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Why you should use an online tax return service

In the UK you can file a tax return yourself or hire an expensive accountant to do it. An online tax return service like TaxScouts is a better solution.

Posh, Becks and their paychecks

Posh and Becks have spiced things up by starring in Netflix’s latest docu-series Beckham. And, we couldn’t resist giving our tax two cents.

Non-domiciled – Page 8 of 11 – TaxScouts Taxopedia

A non-domiciled person is someone living in the UK whose permanent home is not here. There are some tax pros and cons to their situation.

How do I claim EIS loss relief?

EIS loss relief is a type of relief available when you sell your shares at a loss and you can claim it on your Self Assessment.

Offshore account – Page 8 of 11 – TaxScouts Taxopedia

Offshore is an accounting term for "abroad" or "overseas". If you're a UK tax resident, you declare your offshore gains and income to HMRC.

What are the CFD trading tax implications?

You can create a diverse investment portfolio with CFDs, but it’s important to consider their tax implications. Here’s an easy guide that explains it all.

Company Tax Returns sorted online for you - TaxScouts

Use TaxScouts' Limited Company tax return service to get an accredited accountant to sort your company accounts and company taxes for you.

CIS vs PAYE: how are construction workers paid?

If you work in construction, there are two ways to get paid: the Construction Industry Scheme (CIS) or under an umbrella company via PAYE.

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.

Securities – Page 8 of 11 – TaxScouts Taxopedia

To understand securities if you’re not familiar with investing, it’s best to look back on how they began, when investments were paper-based.

Busting TaxScouts myths: are the rumours true?

You might have heard a myth or two about TaxScouts. It’s time to get down to the real matter at hand - the truth.

The home office allowance: how to claim if you work from home

Working from home and self-employed? You may be able to claim the home office allowance - a simple tax-free allowance. Find out more here.

CIS deductions: what expenses can you claim?

This is a comprehensive list of costs that you can claim as CIS deductions to improve your CIS tax refund. Don't throw money away.

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.

The SA105 form: how to use it to pay tax on rental income

If you have to pay tax on your income from property, you have to use the SA105 form. If you need a hand filling this out, read this guide!

What is your HMRC business tax account?

Your HMRC business tax account is a handy online portal designed to simplify your business taxes. Here's what you need to know about it.

P87 claim form – TaxScouts Taxopedia

A P87 claim form lets you claim tax relief for your employment expenses. You can use a P87 to claim any reasonable expense that relates to your employment

Reducing your tax bill with crypto losses

As many investors know not all investments end in a gain - sadly, some result in a loss. This is known as a capital (or crypto) loss.

The UK royals who pay their taxes

Royal Family is one of the most powerful institutions in the UK, but did you know some of them actually have to pay taxes? Shock! Read more.

SA101 – Page 8 of 11 – TaxScouts Taxopedia

The SA101 is one of the supplementary forms that you can attach to the SA100 form, if you need to declare less common types of income or tax reliefs.

HMRC is trying to tax your ISA?!

HMRC do not think fractional shares belong in Individual Savings Accounts (ISAs) because they don’t meet ISA regulations and should be taxed.

How to add joint ownership of property details to your tax return

If you and your partner have joint ownership of property that you rent out together, each of you will have to complete a tax return.

Living abroad and UK tax

Are you living abroad but have a business in the UK? We’re dishing out everything you need to know about living abroad and UK tax!

How to find and share your TaxScouts referral code

Use your TaxScouts referral code to get £25 for each friend you invite, plus they'll get 10% off too. Win-win.

What are the VCT (Venture Capital Trust) tax reliefs?

Venture Capital Trusts (VCTs) are designed for investment in smaller companies. Read about the tax benefits of VCT investing here.

SA107 – Page 8 of 11 – TaxScouts Taxopedia

The SA107 is a form that you attach to your SA100 form to declare income that you received from a trust, settlement, or a person’s estate.

How to pay your tax bill

How to pay your self assessment tax bill. What to do if you're struggling to pay the bill and information HMRC will need to make a decision on a payment plan

Relief at source – Page 8 of 11 – TaxScouts Taxopedia

Relief at source is a way of giving automatic tax relief on the contributions that you made into your pension scheme. It's set at 20%.

HMRC CIS login – TaxScouts Taxopedia

An HMRC CIS login is what you need to login to your online Construction Industry Scheme (CIS) account. Find out how you can log in here.

How to claim your SEIS tax relief

Aimed at helping startups raise money, SEIS is an incredible tax relief: 50% tax relief and zero CGT. This is how you can claim SEIS.

Tax – Page 8 of 11 – TaxScouts Taxopedia

Tax is a sum that you need to pay to the government when you earn money. How you pay it depends on how you earned the money.

Savings interest – Page 8 of 11 – TaxScouts Taxopedia

To understand savings interest, you should first understand how a savings account works with interest rates. Click here to read more.

What is SEIS (Seed Enterprise Investment Scheme)?

The Seed Enterprise Investment Scheme (or SEIS) is a very substantial incentive created to encourage people to make investments in start-ups.

What is EIS (Enterprise Investment Scheme)?

Learn more about the Enterprise Investment Scheme (EIS), a UK government tax incentive to encourage investing in smaller companies.

Shares – Page 8 of 11 – TaxScouts Taxopedia

Shares are part of a limited company. You pay tax on earnings from shares outside of an ISA and you can claim tax relief for SEIS/EIS shares.

Shareholder – Page 8 of 11 – TaxScouts Taxopedia

A shareholder is a person or a business who owns shares in a limited company. You can be the sole shareholder in your own company.

Rent a Room scheme – Page 8 of 11 – TaxScouts Taxopedia

The Rent a Room scheme is a scheme that allows you to earn up to £7,500 a year tax-free from renting out your own home, as long as you also live there.

What is a HENRY? – Page 8 of 11 – TaxScouts

‘HENRY’ stands for High Earner Not Rich Yet. It's a term that refers to people who are high earners, but who don’t have any wealth saved up.

What is a Trust fund? – TaxScouts Taxopedia

A trust fund is a tool for future planning. It’s a legal third party entity. It’s usually set up to take care of a person's assets.

Incentive Stock Option – Page 8 of 11 – TaxScouts Taxopedia

An incentive stock option is an option that gives an employee the right to buy shares at a discounted price. The biggest advantage: zero income tax to pay.

How to know if you’re a UK tax resident and need to pay tax here

Usually, if you are in the UK for 183 days or more then you will be tax resident in the UK for that tax year. It's not always so simple - read more here.

Intro to TaxScouts + Koinly

Reporting your crypto profits for tax can be a huge pain, which is why we’ve teamed up with Koinly to create a simple solution, just for you.

Tax deductions for carpenters

Expenses can be confusing, so the available tax deductions for carpenters may not be obvious. But it’s not actually too complicated.

Class 3 National Insurance – TaxScouts Taxopedia

Class 3 National Insurance is a voluntary payment that you can make if you have gaps in your NI record and you want to qualify for state pension.

Why become a freelance translator?

Deciding whether to be a freelance translator is a big consideration. Whilst the freedom may be tempting,you should know what you’re getting yourself into.

High Earner Tax UK – Page 8 of 11 – TaxScouts

If you earn over £100k, our high earner tax toolkit filled with a range of guides, calculators, quizzes, handy tax tips will benefit you!

TaxScouts launches in Spain 🇪🇸

It’s official. TaxScouts is making moves in Europe! We launched in Spain after four years of simplifying tax returns for the UK market.

Landlord tax UK – Page 8 of 11 – TaxScouts

Whether you're a buy-to-let, airbnb, or rent-to-own landlord, we have all of the tools you need to understand and easily sort landlord tax.

Free Bookkeeping tools - TaxScouts

Try TaxScouts new bookkeeping tools today. Invoicing, expenses, business finances tracking and AI-based receipt uploads. All for free.

Will I lose money now that my tax credits are changing to Universal Credit?

Do you receive child or working tax credits? By 2024, all those on tax credits will be switched over to Universal Credit.

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Tax guides and articles

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