A side hustle making £5,000 profit on top of a salaried job is well past the £1,000 trading allowance, so it must be declared. Depending on whether you are a basic or higher-rate taxpayer, the tax and Class 4 NI bill ranges from roughly £1,090 to £2,090. Here is the full breakdown.
When you start taking a defined contribution pension, you usually choose between flexi-access drawdown and uncrystallised funds pension lump sums (UFPLS). Both let you access your 25% tax-free cash, but they work differently and suit different goals. Here is how to choose in 2026/27.
You only have to register for VAT once turnover hits 90,000 pounds, but you can register voluntarily before then. For some businesses it reclaims thousands in input VAT; for others it adds 20% to prices and scares off customers. Here is how to decide in 2026/27.
Most accountants point to a profit somewhere around 30,000 to 50,000 pounds as the tipping point where a limited company starts to save tax. But profit is only one factor. Here is how to judge the right moment to incorporate in 2026/27, beyond the headline numbers.
The buy-to-let tax landscape has changed dramatically since 2017. Section 24, the 5% SDLT surcharge on second homes, and the scrapping of Furnished Holiday Lettings relief in April 2025 have made residential property investment more expensive. Here's a complete update for 2026.
About 400,000 homes in England are estimated to be in the wrong council tax band. Successfully challenging your band can save £300-£800 per year and get a backdated refund. Here's how to do it.
HMRC charges interest on late tax payments at the Bank Rate plus 2.5%. In 2026 that means approximately 7.0% interest per year. Here's how much you owe and how to stop the clock.
An HMRC P800 (Tax Calculation) letter tells you if you've overpaid or underpaid tax. If you're owed a refund, you can claim it online within 45 days. If you owe tax and it's under £3,000, HMRC usually collects it through your next year's PAYE tax code.
You can pay your HMRC tax bill by bank transfer, BACS, CHAPS, debit card online, or cheque. Direct Debit and credit cards are no longer accepted for most tax payments. Here's how each method works and how to get the payment reference right.
Setting up a limited company in the UK costs £50 at Companies House and takes under 30 minutes online. But there are tax, accounting and compliance obligations you need to know before you start. Here's the complete 2026 guide.
Payments on account are advance payments towards next year's tax bill, each worth 50% of your prior-year liability. Due 31 January and 31 July each year. Here's how they work, when to reduce them, and how to avoid nasty surprises.
Stamp Duty Land Tax can be reduced by a range of reliefs including first-time buyer relief, multiple dwellings relief (now abolished), group relief, and more. Here's what's available in 2026 and who qualifies.
