by support@informanagement.co.uk | Jul 20, 2026 | Income Tax
Many employees and business owners have welcomed higher earnings over the past few years. However, for a growing number of taxpayers, a larger salary does not necessarily mean significantly more money in their pocket. The reason is a process known as fiscal drag....
by Jo Watson Davies | Jul 17, 2026 | Business Support, Income Tax
What’s an allowable landlord expense, what’s not and how to record information accurately Under MTD, landlords must keep digital records of income and expenses. However, HMRC does not prescribe a fixed chart of categories and does not need to see details...
by support@informanagement.co.uk | Jul 16, 2026 | Income Tax
Not every hobby becomes a taxable business, but it is important to be aware when this can happen. This can apply even if you are making some money from your hobby. HMRC looks at a range of factors to decide whether an activity is a genuine trade, including whether...
by support@informanagement.co.uk | Jul 9, 2026 | Income Tax
If you are self-employed, claiming all of your allowable business expenses can reduce your taxable profit and, in turn, the amount of Income Tax you pay. Allowable expenses are costs that are incurred wholly and exclusively for the purposes of your business. Typical...
by support@informanagement.co.uk | Jul 9, 2026 | Income Tax
Most individuals can earn interest from their savings without incurring a tax liability thanks to a number of allowances available each tax year (from 6 April to 5 April). These include your Personal Allowance, the starting rate for savings, and the Personal Savings...
by support@informanagement.co.uk | Jul 9, 2026 | Income Tax
If you are already registered for Making Tax Digital (MTD) for Income Tax, it is important to ensure you are ready for your first quarterly update deadline. Unlike a traditional self-assessment return, MTD requires you to keep digital records and submit regular...
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