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There is no requirement for employers to pay tax and National Insurance on certain health benefits covered by tax concessions or exemptions. For example, there is no requirement to report employees’

There are a significant number of reliefs available to businesses that suffer losses. Certain losses that your company has not used in any other way can be carried forwards against profits in future

Pension Credits can provide extra income to those over State Pension age and on a low income. The credits were first introduced back in 2003 to help keep retired people out of poverty. The Department

Employees who are working from home may be eligible to claim a tax deduction on certain work-related bills. If their employer does not cover these expenses or allowances, they can claim tax relief

There is an online tool available on GOV.UK that allows taxpayers to check if they need to advise HMRC about additional income they receive. The online tool can be found at

Negative equity occurs when the value of an asset, typically a property, falls below the outstanding balance on the loan or mortgage secured against it. In other words, the amount owed on the mortgage

In the UK, certain business sectors are required to register with a regulatory body, such as HM Revenue & Customs (HMRC), for Anti-Money Laundering (AML) purposes. These sectors include: Money

Tips received at work do not count towards your earning for the purposes of the National Minimum Wage. However, you are still required to pay Income Tax on these tips and may also need to pay National

There are many tax reliefs available to married couples or civil partners. In many cases, these reliefs are only available if the couple / civil partners meet the legal definition of living

The VAT penalty regime that applies to the late submission and / or late payments of VAT returns changed for VAT return periods beginning on or after 1 January 2023. Under the new regime, there are

The Corporation Tax Main Rate applies to companies with profits exceeding £250,000 and is currently set at 25%. For companies with profits up to £50,000, a Small Profit Rate (SPR) of 19% is

Changes to the High Income Child Benefit Charge (HICBC) came into effect on 6 April 2024. The income threshold at which HICBC starts to be charged increased to £60,000 (from £50,000). The charge is