HMRC has launched a new "Help for Hustlers" campaign to help people who are earning extra income, figure out if they need to pay tax on the additional earnings. The campaign runs until the end of March and focuses on five key areas where tax might apply:I'm buying or making things to sell.I've got a…
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Health services exempt from VAT
Health professionals providing medical services may be exempt from VAT if their work falls within their registered profession and primarily protects, maintains, or restores health. HMRC outlines specific exempt services, including diagnosis and treatment.The VAT liability of goods and services provided by registered health, medical, and paramedical professionals, can be a complex area of tax…
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Tax-free redundancy payments
If redundancy strikes, you could receive up to £30,000 tax-free. Whether it's statutory or a more generous employer offer, understanding your entitlements and the latest caps on weekly pay can make a real difference to your finances.There is a tax-free threshold of £30,000 for redundancy payments, regardless of whether the payment is your statutory redundancy…
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UK residence and tax issues
The UK's shift to the Foreign Income and Gains (FIG) regime from April 2025 changes how foreign income is taxed. If you are a UK resident, get ready to possibly pay UK Income Tax on all foreign earnings - no more non-dom remittance basis.UK Income Tax is generally payable on taxable income received by individuals…
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