Navigating the UK tax system doesn’t have to be daunting! Here’s a quick guide to keep you tax-savvy: Personal Allowance: Up to £12,570 tax-free. Tax Brackets: – 20% on earnings up to £50,270. – 40% from £50,271 to £150,000. – 45% on earnings over £150,000. Business Benefits: Enjoy lower corporation tax and incentives for investment. Dividend Update: The £2,000 tax-free dividend allowance is phasing out. Cut Employee Taxes: Utilize pensions and work expenses for savings. Allowance Freeze: Stay alert; fixed until 2028, potentially moving more into higher brackets. Tax Code Check: Ensure your payslip reflects the correct tax code; consult with HMRC or an accountant if not. Side Hustles: Always document and declare gig earnings. Stay ahead of the curve and avoid tax surprises! Have questions or need specific advice? Drop them below or slide into my DMs for expert guidance! Like, save, and follow for quick, effective tax tips. #UKTaxes #FinanceTips
