Tax
Self Assessment dates, the tax on pension withdrawals and the everyday gift exemptions, explained with worked examples and links to HMRC.
Tax
Why the January tax bill can be bigger than last year’s tax
For many people in Self Assessment, 31 January brings two payments at once: the balance for last year and the first advance payment for this one. We explain how payments on account are worked out and when they can be reduced.
Tax
How the tax-free quarter of a pension works, and how the rest is taxed
Most people can take up to 25% of a defined contribution pension without tax, within a cap of £268,275. The other 75% is taxed as income when it is paid out, which is where the timing of withdrawals starts to matter.
Tax
The everyday gifts that inheritance tax leaves alone from the start
Birthday presents, wedding gifts and regular help from income can all fall outside inheritance tax straight away. Here is how the £3,000 annual exemption, the £250 small gifts rule and the other everyday exemptions work.
The Saturday Letter
Every Saturday morning: what is worth knowing about pensions, tax, home bills and family money, in a few minutes.