Author: Shaz Nawaz

As a self-employed individual, you pay income tax on your taxable earnings. Whether you are a contractor, sole trader, or freelancer, you owe tax. In this case, you must calculate and pay the tax you owe through self-assessment. It is crucial to make sure that you pay the correct amount of income tax. By claiming […]

Undoubtedly, it is a major undertaking to hire employees and run a business in the UK. One of the most important tasks you must perform is to manage payroll. Do not forget that you must also navigate employment regulations. Dealing with all this can feel overwhelming. To manage your workforce effectively, you need to comprehend […]

As a property owner, you need to understand how tax applies to your rental income. If you are married, then you have certain benefits. The rules of tax are slightly different in this case, as you can transfer your rental income to your husband or wife. This guide will cover everything you need to know […]

In a tax year, you may make a profit on your asset on which you must pay capital gains tax. In certain situations, you may end up making a loss on your asset. If that happens, then the rules are different and more complex. So, what do you do with this loss? This guide will […]

Are you planning for your retirement? Then you may wonder if your state pension is subject to tax. Or if you need to pay tax on any of your pensions. Since the pension you receive falls under the category of income, you owe tax on it. It is important to understand the tax implications of […]

As a property owner, it is necessary to understand how capital gains tax works. If you decide to sell your property, you may end up paying CGT on the profit you make from it. However, that is not always the case. There are exemptions to capital gains tax. Your primary residence can qualify for relief. […]

In the UK, there are two main types of property ownership. One is freehold and the other is leasehold. If you want to purchase a property, then you should know the key differences between the two. It is important to understand the advantages and disadvantages of both types of ownerships. Furthermore, you should know the […]

There are many forms of borrowing to choose from. The right one depends on your personal financial situation. Overdraft is a form of short-term borrowing where you can spend more than you have in your account. Before you decide to do so, you should know the rules and regulations of an overdraft. You can go […]

Getting property from a deceased family member can be a difficult and emotional event. It frequently has consequences for both finances and emotions. To control their tax obligations and make wise decisions, beneficiaries of an estate receiving an interest in real estate must be aware of the specifics of capital gains tax (CGT). This guide […]

Most people find ISAs far too complex to consider using them. It does not help that there are quite a few options to choose from. Nevertheless, they do have their positive points. One of the major ones being that you have an annual ISA allowance. This guide will cover everything you need to know about […]