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Gifts to a spouse or civil partner

Gifts to a spouse or civil partner

by | Apr 30, 2026 | Capital Gains Tax

Transfers of assets between spouses or civil partners are usually free from Capital Gains Tax (CGT). When you give or sell an asset to your spouse or civil partner, it is treated as a disposal for CGT purposes, but on a ‘no gain, no loss’ basis. This means...
NIC and tax after reaching State Pension age

NIC and tax after reaching State Pension age

by | Apr 30, 2026 | Pension

If you continue working after reaching State Pension age, your National Insurance position changes, but your Income Tax obligations largely remain the same. Once you reach State Pension age, you stop paying employee National Insurance contributions (Class 1) on your...
Setting off losses against other income sources

Setting off losses against other income sources

by | Apr 30, 2026 | Income Tax

If you are self-employed or a member of a partnership, you may be able to claim tax relief when your business makes a loss. There are several ways trading losses can be used, but each loss can only be used once and specific conditions apply. For the 2025–26 tax...
Tax on savings interest

Tax on savings interest

by | Apr 30, 2026 | Income Tax

If your taxable income for the 2026–27 tax year is less than £17,570, you will not pay any tax on the interest you receive. This figure combines the £5,000 starting rate for savings (taxed at 0%) with the £12,570 personal allowance. In...
How bonuses are taxed

How bonuses are taxed

by | Apr 30, 2026 | Payroll

Bonuses are treated as taxable earnings, so both employers and employees need to understand how they are taxed and reported. For cash bonuses (including vouchers that can be exchanged for cash), the rules are straightforward. The payment is added to an...