In Part 1 of this series of articles, we explained what tax codes are and why they are important, as well as showing you where you can find your tax code. We continue this series showing you how the tax code you are issued by the HMRC works. The tax code is based on...
Common questions permanent employees ask about tax codes Why is my tax code different to my friends and does it make a difference to the amount of tax I pay? In this series of articles, we will answer this question. What is a tax code and why is my tax code important?...
There are three tax ‘types’ payable on salary payments (salary payments include sick leave, maternity or paternity pay and adoption pay) and they all work on a sliding scale. The more you earn, the more tax you pay. * PAYE Tax: Employers deduct Pay As You...
A lot of people let out rooms in their residence for extra income. This raises the question whether they need to pay tax on the income generated from renting out a room. If you are letting a room or rooms (furnished) in your main residence, then there is a special...
