Employing your spouse or partner could cut your tax bill by thousands. From using their personal allowance to boosting pension contributions, experts explain how this smart move can benefit both your household and your business.
Category: Money & Tax for the Self-Employed
Everything you need to manage money and tax as a freelancer or sole trader – from self-assessment to invoicing and cashflow.
HMRC and BFI investigate film producer Alan Latham over £16m taxpayer-funded movie projects
HMRC and the British Film Institute are investigating film producer Alan Latham after 21 of his movies sought £16m in UK tax relief. Liquidators are probing £20m in missing film investments.
The TikTok tax: Millions risk HMRC fines as side hustlers surge past £1,000 earnings threshold
New data from Tide reveals that 42% of UK social media users now earn from content creation — but many risk HMRC penalties for missing the £1,000 trading allowance threshold as side hustles turn into real businesses.
HMRC has stepped up its campaign to expand the scope of ‘confectionery’ under VAT law – and the courts are backing them
HMRC is reclassifying more sweet products as confectionery under VAT rules, hitting producers, wholesalers and retailers with 20% tax liabilities. Here’s what it means for UK food businesses.
HSBC warns UK business banking customers of third-party data breach
HSBC has alerted UK business banking customers to a data breach at a third-party platform exposing passport details and identity documents. Customers are urged to stay vigilant against fraud.
Reeves’ rumoured pension raid spurs expats to shift billions abroad
Fears of a pensions tax raid in Rachel Reeves’ November Budget are pushing British expats to move retirement savings abroad, with Malta emerging as a safe haven.
Rayner and footballers’ tax troubles are a ‘wake-up call’, adviser warns
The separate tax controversies involving Premier League footballers and former deputy prime minister Angela Rayner should serve as a “wake-up call” about the importance of taking sound, professional advice, a senior tax expert has warned.
AI profiling of social media will boost HMRC’s tax compliance, say advisers
Blick Rothenberg says HMRC’s use of AI through its CONNECT system, which has already recovered over £3bn in unpaid tax, will be strengthened by profiling people’s social media activity.
HMRC scores tax windfall from Lionesses’ Euro 2025 prize money
The Lionesses’ Euro 2025 win is expected to deliver HMRC a £788,900 tax windfall, with players facing a 47% marginal tax rate on bonuses, according to Blick Rothenberg.
Taxpayers who haven’t settled their bill with HMRC must pay by 31st July or face fines and interest
HMRC warns taxpayers to settle their bills by 31st July or risk 8.25% late payment interest and penalties. Payments on account apply to many self-employed and high-income earners.
Families face red tape nightmare with inheritance tax on pensions from 2027
From April 2027, pensions will be included in inheritance tax calculations, raising £1.46bn annually but sparking backlash over added bureaucracy and burden on bereaved families.
Inheritance tax haul hits £2.2bn in just three months amid rising property prices and frozen thresholds
HM Revenue and Customs (HMRC) collected a staggering £2.2 billion in inheritance tax (IHT) in the first three months of the current tax year, new data released this morning reveals—£100 million more than the same period last year.
New ‘buy now, pay later’ affordability checks may cover even smallest loans under FCA proposals
FCA proposes new rules requiring affordability checks on even the smallest ‘buy now, pay later’ loans, aiming to protect vulnerable borrowers as the market hits £13bn.
Wimbledon winners face £1m UK tax bills despite non-resident status
Wimbledon winners Jannik Sinner and Iga Swiatek face UK tax bills exceeding £1 million each, despite being non-residents, due to HMRC rules on sports earnings and image rights.
Reeves to cut cash ISA allowance in push to revive UK capital markets
Chancellor Rachel Reeves is expected to cut the cash ISA allowance to encourage investment in UK equities, prompting backlash from savings providers and finance experts.
