Knowledge Keep up to date with the latest in accounting amendments & requirements
Welcome to our Knowledge Base
Here you will find lots of useful information relating to HMRC guidelines and the latest in guidance.
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Filling gaps in your NIC record
National Insurance credits can help qualifying applicants fill gaps in their National Insurance record. This can assist taxpayers in building up the number of qualifying years of National Insurance
Advising HMRC about changes in your income
There are a number of reasons why you might need to contact HMRC about changes in your income.
HMRC’s guidance states that this could happen because you:
did not realise you needed to tell HMRC
Tax credits renewal deadline reminder
The 31 July 2023 is the final day for families and individuals that receive tax credits to tell HMRC about any changes in their circumstances or income and to renew their tax credit application. As in
Duty free limits if you are travelling abroad
If you are travelling from outside the UK and arriving home in Great Britain (England, Wales and Scotland), you are allowed to bring back the following goods for your own use without any UK tax or
Marriage Allowance how it works
The marriage allowance is available to married couples and those in a civil partnership where a spouse or civil partner does not pay tax or does not pay tax above the basic rate threshold for Income
Selling overseas property
As a general rule, if you are resident in the UK, you are liable to pay Capital Gains Tax (CGT) when you sell (or dispose of) an overseas property at a gain.
The annual exempt amount applicable to
Transfer of unused IHT nil rate band
The Inheritance Tax residence nil rate band (RNRB) is a transferable allowance for married couples and civil partners (per person) when their main residence is passed down to a direct descendent such
National Insurance credits
National Insurance credits can help qualifying applicants fill gaps in their National Insurance record. This can assist taxpayers to build up the number of qualifying years of National Insurance
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