Making Income Tax Digital: Changes from April 2026
The UK government’s Making Tax Digital (MTD) initiative continues to evolve, with Income Tax Self-Assessment (ITSA) going digital from April 2026. This move aims to streamline tax reporting, reduce errors, and encourage digital record-keeping. Here’s what you need to know and how to get ready. 1. What is MTD? MTD is a government initiative requiring […]
How You Can Move Abroad and Pay No Tax: Key Steps
Moving abroad to reduce or eliminate your tax burden is possible with careful planning. Here are the key steps to achieving tax-free living abroad. 1. Choose a Tax-Friendly Country Countries like Monaco, UAE (Dubai), the Bahamas, and Panama offer no or low personal income tax. Research the tax rules and residency requirements in these countries […]
Top Tax Tips for Preparing Your 2023/24 Personal Tax Return
As the 2023/24 tax year ends, it’s time to prepare your personal tax return. Here are key tips to help you stay organised, avoid errors, and reduce your tax bill. 1. Organise Your Documents Collect key forms like your P60, P11D, self-employment income, dividend statements, and rental income details. Keep a checklist to ensure nothing […]
Labour Autumn Budget 2024: Key Tax Changes and How to Prepare
With the Labour government’s Autumn Budget on the horizon, several tax changes are expected that could impact individuals and businesses alike. Here’s what you need to know and how to prepare. 1. Income Tax Hikes for High Earners Labour plans to increase tax rates for higher income brackets and reduce personal allowances for top earners. […]