From January 2025, with HMRC is cracking down on non-payment of tax for side hustles, with online marketplaces including Vinted, eBay, Etsy and Air BnB are legally obliged to share sales data for ...

Savers with £3,500 or more tucked away could be hit with an unexpected tax demand from His Majesty's Revenue and Customs ...

HM Revenue and Customs (HMRC) continue to face increasing costs and challenges as it presses on with becoming a fully digital tax authority, according to a National Audit Office (NAO) report.

Under HMRC guidance, you're entitled to a tax-free personal allowance. For those earning under £100,000 with no taxable perks ...

Savers with more than £3,500 tucked away could be hit with an unexpected tax bill from HMRC, experts have warned. The tax ...

HMRC states on its website: 'Interest "arises" when it is received or made available to the recipient. Interest has been made available if it is credited to an account on which the account holder ...

HMRC is able to automatically detect interest on savings generated by your bank account and if you tip over a certain threshold, you will automatically be sent a notice of an extra tax bill.

If the interest payout exceeds £500, even without considering interest from other accounts, individuals can expect to receive a letter from HMRC. Moreover, as a higher-income earner, 40% of every ...

HMRC has the capability to automatically detect interest accrued in your bank account, and if your savings interest exceeds a certain limit, you'll be issued a notice for additional tax.

However, if the fixed rate deal - whether it be two-year, three years or longer - pays out the interest only at maturity, ...