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George Lilley is licensed and regulated by AAT under licence number 1001040

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15 Nov 2019

Self-employed – How to calculate your payments on account

The deadline for filing the self-assessment tax return for 2018/19 is 31 January 2020. This is also the date by which any outstanding tax for 2018/19 must be paid and, where payments need to be made on account, t...

3 Jul 2019

SDLT and first-time buyers

Stamp duty land tax (SDLT) is payable where you buy a property in England or Northern Ireland and the amount paid is more than a certain amount. SDLT does not apply in Scotland, where Land and Buildings Transaction Tax (LBTT) applies instead,...

21 Mar 2019

Importance of registering for child benefit even if the High-Income Child Benefit charge applies

Parents affected by the High-Income Child Benefit charge (HICBC) can be forgiven for thinking that there is no point of registering for child benefit if they are only going...

2 Nov 2018

Savings income – how is it taxed?

The taxation of savings income can be complicated as there are various allowances and rates that come into play. However, most people are able to enjoy savings income tax-free. For these purposes, savings income means interest on saving...

12 Oct 2018

Overpaid tax? How to claim it back

There are various reasons why you may have paid more tax than you needed to for a tax year. For example, if you only worked at the start of the year, you may not have received all of your personal allowance. Alternatively, if your tax...

5 Oct 2018

Dividend income – How is it taxed in 2018/19?

The taxation of dividend income was reformed from 6 April 2016. Since that date, dividends are paid gross – there is no longer any associated tax credit – and all taxpayers receive a dividend allowance. Dividends not shelter...

21 Sep 2018

Private lettings relief

Lettings relief potentially shelters some of the gain from capital gains tax on the disposal of a property which has been an only or main residence at some point during the period of ownership and which has also been let out.

Where a residence has...

24 Aug 2018

Employment allowance – have you claimed it?

The employment allowance is a National Insurance allowance which is available to qualifying employers. The allowance reduces employers’ (secondary) Class 1 National Insurance by up to the £3,000.

The allowance is set at £3,000...

17 May 2018

Jointly-owned property – how is income taxed?

Where property is owned jointly by two or more people, the way in which any income is taxed will depend on the relationship between the owners.

Scenario 1: Joint owners are not married or in a civil partnership

If the property...

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