Tax Resources
Expand your knowledge of Tax by reading the tax resources and contact us for any further enquiry.
HMRC Tax Resources & Useful Links
Click on the page links below to visit relevant tax resources.
HMRC Homepage
Once you’ve set up an account, you can sign in for things like your personal or business tax account, Self Assessment, Corporation Tax, PAYE for employers and VAT.
Apply for Marriage Allowance
Marriage Allowance lets you transfer £1,260 of your Personal Allowance to your husband, wife or civil partner. It’s free to apply for Marriage Allowance.
Corporation Tax
You must pay Corporation Tax on profits from doing business as:
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a limited company
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any foreign company with a UK branch or office
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a club, co-operative or other unincorporated association, for example a community group or sports club
Individual Savings Accounts (ISAs)
You can save tax-free with Individual Savings Accounts (ISAs).
There are 4 types of ISA:
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cash ISA
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stocks and shares ISA
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innovative finance ISA
Private Residence Relief
Any individual is entitled to the relief on any gain arising on the disposal of their only or main residence. This is provided that, in calculating the amount of the gain that would be a chargeable gain if the relief did not exist, no account would have to be taken of any Gift Hold-Over Relief obtained under section 260 of the Taxation of Chargeable Gains Act 1992 by any person for an earlier disposal.
VAT
VAT (Value Added Tax) is a tax added to most products and services sold by VAT-registered businesses.
Businesses have to register for VAT if their VAT taxable turnover is more than £90,000. They can also choose to register if their turnover is less than £90,000.
Capital Gains Tax
Capital Gains Tax is a tax on the profit when you sell (or ‘dispose of’) something (an ‘asset’) that’s increased in value.
It’s the gain you make that’s taxed, not the amount of money you receive. For example, if you bought a painting for £5,000 and sold it later for £25,000, you’ve made a gain of £20,000 (£25,000 minus £5,000).
National Insurance
You pay National Insurance contributions to qualify for certain benefits and the State Pension.
You need a National Insurance number to make sure your National Insurance contributions and tax are recorded against your name only.