Student loan repayments (SLR) are normally deducted under PAYE from employment income so many people incorrectly assume that SLR are not due on other ‘unearned’ income such as rent or pensions. SLR will in fact be payable where the unearned income exceeds £2,000 per year…

The changes to the pension rules announced in the Spring Budget were designed to dissuade higher earners from retiring early to avoid pension charges on high contributions but the new rules could have the opposite effect. Individuals can now contribute up to £60,000 per year…

When HMRC asks for more PAYE than you have deducted from your staff’s wages it is often the result of double-counting somewhere in the process. A persistent bug in the PAYE system is caused by the HMRC computer creating a duplicate employment record which it…

Petrol and diesel pump prices are high but the tax-free mileage rates payable to employees who use their own vehicles for business have not been adjusted for over a decade. Many employees cannot afford to use their own car or motorbike for business journeys if…

The annual capital gains exemption (currently £12,300) may cover most of the capital gains that you make on your share portfolio. However that exemption will be cut to £6,000 on 6 April 2023 and £3,000 in April 2024. If you are planning to make large…