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Monthly Tax Q&A
Covid-19 Support: SEISS Second Claim Service Open
The Self-Employment Income Support Scheme (SEISS) claims service for the second and final grant is open from 17 August 2020. Individuals eligible for the second
Covid-19: Job Support Scheme
The Chancellor originally announced details of the new Job Support Scheme (JSS) in his Winter Economy Plan, and the details were subsequently updated in a statement
Covid-19: SEISS and business grants update
Millions of self-employed individuals have been eligible to receive direct cash grants through the government’s Self-Employment Income Support Scheme (SEISS), to help them during the
Cryptocurrency Taxes Explained: What to Declare Before You Buy
Q: I am thinking about buying some cryptocurrency but before I do, I wanted to understand the tax implications. What do I have to declare in
Daughter’s Inheritance Tax Relief Claim on a Vacated Property
Last updated: 14 October 2026 Can you claim inheritance tax relief on a home you moved out of? Sometimes. The residence nil rate band (RNRB)
December Key Tax Dates 2020
19/22 – PAYE/NIC, student loan and CIS deductions due for month to 5/12/2020 30 – Deadline for 2019/20 self assessment online returns to be filed if you
Deregistering from VAT
Last updated: 19 October 2026 As a result of the Covid-19 crisis, many businesses are currently experiencing reduced turnover. In many cases, the business is
Difference between Stamp Duty Land Tax (SDLT) and Land Transaction Tax (LTT)
Last updated: 14 October 2026 What’s the difference between Stamp Duty Land Tax and Land Transaction Tax? Both are taxes on buying property or land,
Digital Records for 2024: What You Need to Know?
Q: I’m self-employed and I earn around £52,000 – £55,000 per year. My record keeping is partly traditional and paper-based. I’ve been reading recently about the
Director’s Loan Account
Last updated: 14 October 2026 What are the tax consequences of writing off a director’s loan? If your company writes off a loan you owe
Do Casual Workers Need to be on Payroll for One Shift?
Last updated: 14 October 2026 Do casual workers need to go on the payroll for a single shift? Yes. Someone who works one shift for
Do I Declare a Cash Gift From My Employer?
Last updated: 18 October 2026 Do you need to declare a cash gift from your employer? A cash gift from your employer is taxable earnings,
Do I Include Pension Contributions for Tax Credits?
Last updated: 14 October 2026 Do pension contributions reduce your income for tax credits? Tax credits ended on 5 April 2025. Working Tax Credit and
Do I Need to Declare My Small Craft Business Income?
Q: I’ve started a new business this year selling my hand-made craft items. At this stage it’s only earning me a relatively modest income. Up until
Do I Need to File a Tax Return for Selling Items Online?
Q: I use various online marketplaces to sell my unwanted items – from clothes to old phones and various other things. I’m a bit concerned though
Do I need to make payments on account if tax is already deducted at source?
Last updated: 14 October 2026 Do you need to make payments on account if tax is already deducted at source? Not if most of your
Do I Need to Pay Inheritance Tax When My Partner Passed Away?
Q: My civil partner recently passed away and I’m now dealing with the financial implications of losing him. I’m trying to understand the Inheritance Tax situation;
Do I Need to Pay Tax on My Savings Interest Earnings?
Q: Last year I earned £4,500 approximately from making interest on my savings. I’ve never come close to earning anywhere near that much previously so I’m
Do I Need to Pay Tax on the Bonus Received from Nationalwide?
Last updated: 14 October 2026 Do you need to pay tax on a bonus from a building society? Usually not. A member bonus paid by
Do I Need to Register as a Sole Trader if I Earn Under £12,570?
Last updated: 14 October 2026 Do you need to register as a sole trader if you earn under £12,570? It depends on your gross income