Author: Freya

Editorial Head. Passionate in blogging and writing about topics related to business, finance, law and related.

What is the PAYE tax? ‘Pay as you earn, ‘also known as PAYE, refers to the income tax directly reduced from your salary. This method was introduced in 1944. Generally, employers pay their income tax (IT) through PAYE. The income tax is directly reduced from the salary every week or every month before receiving it at the source. The employer directly sends the tax to HMRC (Her Majesty’s Revenue and Customs) before he pays your salary. However, some people continue to pay income taxes based on their self-assessment. How is the PAYE tax calculated? PAYE tax is calculated based on…

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What is Tax Credit? There are two types of tax credits. These state benefits are of two types: Working Tax Credit Child Tax Credit The amount paid to work people who receive a low income is known as Working Tax Credit. Both self-employed or working for someone can benefit from working tax credit. It is aimed to boost the income of anyone who has a low income. Working Tax Credit is administered by Her Majesty’s Revenues and Customs (HMRC). Child Tax Credits are benefits given to working or non-working people responsible for a child. You can claim anyone or both…

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What is council tax? Council tax is a mandatory tax applicable on your domestic property in the UK. It is collected by the local authorities of your area. The revenue collected is utilized for funding local services. These include: construction of roads or providing transport services libraries or educational services in your local area collection and disposal of rubbish in your area providing administration services maintenance of recreation projects, for instance, parks or sports center police services fire services conducting local elections This taxation system was introduced in 1993. Who collects the council tax? The council tax is calculated by…

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What is an Emergency Tax? An emergency tax is a temporary form of tax levied by the government of the United Kingdom on some citizens. An emergency tax code is applied when the HMRC (Her Majesty’s Revenue and Customs) does not have adequate information on what tax code you fall under. This can happen if you start a new job or start your first job. In this case, the government gives you an emergency tax code until details regarding your correct tax code come into the light. Even though there are slight problems with the emergency tax system, these taxes…

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What is a Road Tax? Road tax is nothing but a form of tax that a vehicle owner has to pay every year to the government. A road tax is technically called a Vehicle Excise Duty (VED). But you may know it as other names such as a car tax, vehicle tax or road tax. The amount raised by the government through the car tax goes into the central government fund and is then utilized for the welfare of the general public with activities such as road projects or maintenance. Interestingly, your road tax is based on your vehicle’s carbon…

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Generally, one’s source of income after retirement is a pension. In some cases, your pension is taxable too. It is decided whether you have to pay or are exempted from paying tax on your pension depending on your total annual income. How to Avoid Paying Tax on Your Pension in UK? But if your only source of income is the state pension, you are not required to pay any taxes on it. However, if you have other sources other than the pension, you are entitled to pay tax on the amount exceeding the tax threshold. Income received through a pension…

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Each year citizens of the United Kingdom have to hand back a share of their income and earnings to the government for helping it carry out its functions and giving back to society. The taxpayers of the UK are segregated into different tax codes or categories, if you will, to differentiate among them based on inequality and their circumstances. If you are a citizen of the UK, you need to understand these tax codes If you are a citizen of the UK, you should know what these tax codes are and their meaning. this blog enlisted with a list of…

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Family Law relates to the cases dealt with divorce, separation, child adoption, child contact, local authority care orders, financial settlements and other related things. If you are looking for one of the best family lawyers in London. Then this blog is for you, In this blog we have listed some of the best family lawyers
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Paying taxes is a crucial function that citizens have to carry out in order to provide the governments with the required funds to work towards their welfare. One such tax in the United Kingdom is the council tax. How to pay council tax? It is a form of direct tax payment made to the council for the local public services. It is charged based on the property that you are residing in. The local councils of each district and area in the United Kingdom offer multiple options to pay for the council tax. Payment schemes A council tax is typically…

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There are certain circumstances in which people can be exempt or discounted from paying the council tax. These circumstances can be of two types:- property-related and personal circumstances. Who is exempt from council tax? 1. Property-Related Circumstances These are situations where if you own any of the below properties or you own a property for any of these purposes, you would be exempted from paying the council tax. Property repossessed by the mortgage lender It is owned by a charity and has been empty for less than six months Occupation of the property is legally prohibited In the hands of…

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