Income Tax

June 21, 2018

Self-assessment second instalment due end of July

Taxpayers that make payments on account should be aware that the second payment on account for 2017-18 is due on or before 31 July 2018. The amount due for payment is usually the same as the first payment on account made on 31 January 2018 in
June 6, 2018

What is the Repayment of Teachers Loan Scheme?

Student Loans are part of the government’s financial support package for students in higher education in the UK. They are available to help students meet their expenses while they are studying, and it is HMRC’s responsibility to collect repayments
May 30, 2018

Is professional gambling a trade?

A thought-provoking question that has been asked by one of our readers is whether professional gambling is a trade or not. The answer to this question might surprise you. According to HMRC and reinforced by a number of court cases is the answer that
May 30, 2018

Children’s savings and tax

All children in the UK have their own personal annual allowance. However, anti-avoidance laws prevent this allowance being utilised by parents of children aged under 18 with some minimal exceptions. If older children are employed by a parent, then