If you've recently lost your job and are wondering how tax refunds on redundancy payments work and are considering claiming back tax you may have overpaid, you've come to the right place. Being made redundant is a challenging time, both emotionally and financially. Amongst the many adjustments, understanding your tax position might feel like an unwelcome extra burden. However, here at Taxfile, we know that many individuals who experience redundancy are actually due a tax refund or tax rebate. So, we're here to cut through the jargon and help you get back what you're owed.

The post Tax Refunds After Redundancy: Claiming Your Cash Back – A Taxfile Guide appeared first on Taxfile.

For many independent professionals, the flexibility and financial benefits of contracting are a significant draw. However, navigating the complexities of UK tax legislation, particularly IR35 (Off-Payroll Working Rules), can be a daunting task. At Taxfile, we understand these challenges and are here to provide clear, actionable insights to help you manage your IR35 status effectively and ensure HMRC compliance. Click the link directly below to learn more...

The post Decoding IR35: Your Guide to Contractor Tax Status appeared first on Taxfile.

Attention UK landlords! The way you manage your property finances and report to HMRC is undergoing a major transformation. Making Tax Digital for Income Tax Self Assessment (‘MTD IT’) is no longer a distant whisper – it's becoming a reality, and Taxfile is here to help you navigate this essential change.

Forget the headache of last-minute annual Self Assessment tax returns! MTD for Landlords is designed to streamline your landlord tax obligations, demanding a shift to digital record keeping and MTD-compatible software. Don't get caught unprepared – let's explore everything you need to know about MTD for landlords and how to ensure a smooth transition.

The post UK Landlords: Is Your Portfolio Ready for the Digital Tax Revolution? (Making Tax Digital for Landlords) appeared first on Taxfile.

A major change is coming for all UK company directors in 2025. Companies House is introducing mandatory identity verification and we've created this essential guide to explain what the new director ID verification rules mean for you, ensuring you stay compliant and avoid significant penalties.

These new measures are part of the Economic Crime and Corporate Transparency Act (ECCTA), a significant piece of legislation designed to improve the quality of data on the UK Companies Register and prevent corporate structures from being used for fraudulent activities.

This guide will walk you through the key changes, deadlines, and the exact steps you need to take.

The post Companies House ID Verification 2025: A Director’s Guide to the New UK Rules appeared first on Taxfile.

The post Lower Prices for CIS Clients – We’re on Your Side! appeared first on Taxfile.

As the new tax year approaches, CIS contractors must prepare for the upcoming 2024/25 tax return season.  Last year we witnessed a significant increase in HMRC compliance checks delaying refunds, with many contractors being asked to provide detailed CIS pay/deduction slips and bank account transactions to verify their income.

At Taxfile, we are here to help you navigate these challenges and ensure your tax affairs are in order while offering you peace of mind with our unique HMRC investigation cover. Learn more ...

The post Stay Ahead of HMRC Compliance Checks for CIS Contractors appeared first on Taxfile.

Tax. The very word can sometimes send shivers down your spine! But what if we told you there's a way to make things a little less… taxing? Enter Making Tax Digital for Income Tax & Self-Assessment (MTD IT)!

Now, before you click away, hear us out. This isn't about making tax more complicated. It's actually about bringing your tax admin into the digital age, which in the long run, can save you time and reduce errors. What's more, if you work through Taxfile, it could also save you money! Think of it as upgrading from paper maps to Google Maps for your finances!

The post Making Tax Digital for Income Tax: Your Friendly Guide appeared first on Taxfile.

Have you ever thought about your pension? It might seem far away, but it's super important to start thinking about it now! One of the key things that helps build your future pension is your National Insurance (NI) contributions. In today's post, we explain an important deadline that you won't want to miss out on if you have gaps in your NI contributions and would like to potentially boost your state pension.

The post Don’t Miss Out! Your Future Pension Needs YOU! – Check Your NI Contributions by April 5th, 2025 appeared first on Taxfile.

From April 2025, the secondary threshold for employer National Insurance ('NI') will be lowered. This means that employers will need to start paying employer NI contributions on their employees' earnings sooner. In today's post we explain how this will affect employers, how much the employer NICs will increase, changes to the Employment Allowance, and more.

The post Lowering the Secondary Threshold for Employer NI – What You Need to Know appeared first on Taxfile.

October 2024's Autumn Budget delivered a significant blow to investors with the announcement of increased Capital Gains Tax (CGT) rates. Today, we explore the new rates, how they will affect the sale of assets, and how investors can mitigate their effects.

The post Capital Gains Tax Hike: A Blow to Investors appeared first on Taxfile.