The UK Tax Year Dates Everyone must know – TaxTotal

You can earn certain allowances and tax-free income during a tax year. Apart from those, you are entitled to pay tax on the income you generate across the tax year. Knowing the UK tax year dates can assist you in planning your personal financial budget and ensuring that any tax deadlines are met. It is […]

What is Payment on Account for Self Assessment – TaxTotal

Payment on account for Self Assessment is tax payments made by self-employed taxpayers twice a year. In order to spread the burden of the future year’s tax. They are based on your tax bill from the preceding year. In other words, HMRC forecasts your future earnings based on your previous earnings. They are due in […]

Jobseekers Allowance UK : How to claim the benefit?

Jobseekers Allowance in the UK (JSA) is a benefit that is accessible to individuals who are currently pursuing a job. A fresh claim for New Style JSA is now the sole option.The National Insurance payments from your previous two years lead to the calculation of JSA. You can claim it alone or with Universal Credit.If you […]

How much Universal Credit can you get? – TaxTotal

Universal Credit is a new monthly payment for individuals of working age who are not employed now but maybe in the future. If you are 18 or over and live in the UK, have no income or very little income and are not expected to work within the next six months. Then you can claim […]

What is Civil Partnership in UK? – TaxTotal

A civil partnership in UK is a legally binding relationship that two people may enter into, which bestows upon them the rights and responsibilities of marriage. A civil partnership is not equivalent to marriage, but it can provide many of the same benefits. There are specific requirements for registering a civil partnership. For instance, partners […]

Which inheritance tax form do you need to use?

Once you inherit or receive an inheritance. You have to complete the inheritance tax form within 6 months of the person’s death. While the UK has several types of inheritance tax forms available, not all are applicable for every individual. For example, individuals who have received an inheritance may only need the IHT205. You can […]

How much Inheritance Tax do you need to pay? – TaxTotal

Inheritance tax is a tax levied on the ‘estate’ of a deceased person. Value of the deceased’s estate determines the amount you pay. Basically, assets (cash in the bank, investments, property or business, vehicles, life insurance payouts), less any debts determines the value of the estate. Importantly, there is usually no tax to pay if […]

Uniform tax rebates- The best ways to use them.

Uniform tax rebates (also known as uniform benefits or HMRC uniform allowances) in the UK are a type of tax relief available to those who need to clean, repair, or replace specialised work attire. There are particular standards regarding who qualifies for it and what constitutes a “uniform,” although they are not always evident. As […]

CIS Tax Returns : What you need to know.

HMRC uses the Construction Industry Scheme (CIS tax returns) to collect income tax from subcontractors in the construction industry. According to the CIS rules, the contractor is normally required to withhold tax on its payments to you, at 20% if you are ‘registered’ or 30% if you are not. The CIS encompasses more than just […]

Rental Income Tax in UK – What do you need to know?

What Is Rental Income? Rental income is the money that a property owner receives in exchange for letting another person or business use their property. This income includes rental payments received in advance, late payments, and current payments received. In addition to that, money received for lease cancellations and refunded security deposits are also treated […]