How not to fall foul of a selection of quirks in our tax system. How much tax will you pay on your bonus? Or on that extra dividend? To twist a phrase, income is income, but not all incomes are the same. Several years down the line, we are still getting to grips with the
Most people are well aware of the fact that they should be saving more for retirement. However, they do not know how much they should be saving. The average pension pot in the United Kingdom is £50,000. The government introduced the auto-enrollment scheme in 2012. Employers are required to automatically enroll people in the workplace
Income tax may sound daunting and just the thought of it is a sure headache, but knowing a couple basics will give you a better understanding. So what is income tax? Citizens Advice defines it as a tax on income, which includes: earnings from employment, self-employment, some social security benefits, interest on most savings, income
In the UK, paying taxes is a mandatory requirement for every citizen. The practice of imposing taxes on citizens dates back to the medieval times during when monarchs imposed levies on citizens on property and land. The revenue raised was used to run various functions of the government such as paying salaries of servants and
Coach John Wooden challenged himself every day with constant self-improvement: Never be satisfied. Work constantly to improve. Perfection is a goal that can never be reached, but it must be the objective. The uphill climb is slow, but the downhill road is fast. He believed that valid self-analysis is crucial for improvement. In order to improve
This life we live has very few certainties; however, one of those certainties will always be paying taxes. If you’re feeling a little low on funds after this last round of taxes, fret not. There are plenty of ways you can reduce your tax for next year. Here are four simple tips to get you