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Meaning of Carried Interest

Meaning of Carried Interest

by | Jul 2, 2026 | Income Tax

Carried interest is essentially a share of the profits from an investment fund that is paid to the fund managers. Unlike a fixed fee, its value depends directly on the fund's performance. This type of payment is considered carried interest if it is a...
Avoid 60% Income Tax band

Avoid 60% Income Tax band

by | Jul 2, 2026 | Income Tax

A ‘60% Income Tax band’ can arises when an individual’s income exceeds £100,000 in a tax year. Once this threshold is crossed, the personal allowance is gradually withdrawn at a rate of £1 for every £2 of adjusted net income above...
Understanding dividend tax

Understanding dividend tax

by | Jun 25, 2026 | Income Tax

Understanding dividend tax is important for anyone who receives income from shares in a company. Dividends are taxed differently from salary, pensions and other forms of income, with their own allowances and tax rates. For the 2026-27 tax year, individuals do not pay...
Understanding your tax code

Understanding your tax code

by | Jun 18, 2026 | Income Tax

Your tax code tells your employer or pension provider how much Income Tax to deduct from your pay. It is set by HMRC, and you may have a different code for each job or pension. Most people with one job (or pension) use the code 1257L, which reflects the standard...
Claiming tax relief on charitable donations

Claiming tax relief on charitable donations

by | Jun 18, 2026 | Income Tax

When you donate money to a charity or Community Amateur Sports Club (CASC) under Gift Aid, the organisation can claim an extra 25p from HMRC for every £1 you give. This increases the value of your donation at no extra cost to you. If you pay higher or additional...
Self-assessment tax penalties

Self-assessment tax penalties

by | Jun 11, 2026 | Income Tax

If you are required to complete a self-assessment tax return, HMRC may charge penalties if you miss the deadline for making a filing or payment.  There are also penalties if you fail to register on time for self-assessment. If you register late and do not pay...