Each tax year, HMRC issues a document to taxpayers in the UK called the Annual Tax Summary. As part of this document, the taxpayer’s income, tax deductions, allowances, and overall tax liability for the current tax year are summarized. By…
Marriage Allowance: To qualify for Marriage Allowance, you must be married or in a civil partnership. Marriage Allowance allows married couples or civil partners to transfer a portion of their Personal Allowance (£12,570) between them, potentially reducing their tax bill.…
Principal Private Residence Relief (PPR) – for properties that have been your main home Letting Relief- for properties that were once your main home and have been let out Entrepreneurs’ Relief – for qualifying business assets that include shares in…
