Selling on Vinted
Do You Have to Pay Tax on Vinted Sales? Here’s What You Need to Know In recent years, platforms like Vinted and eBay have made it easier than ever to clear out your wardrobe and make a little extra money in the process. But if you’re selling clothes regularly on Vinted, you might wonder: do […]
Understanding Marriage Allowance
When it comes to saving money, every little helps — and the HMRC Marriage Allowance might just be one of the most overlooked ways UK couples can keep a little more cash in their pockets each year. Let’s break down what it is, who can claim it, and how to make sure you’re not missing […]
What is the most tax efficient salary for a director?
Most Tax-Efficient Director Salary for 2024/25 As a company director, paying yourself a tax-efficient salary is crucial to maximising take-home pay while minimising tax liabilities. With the 2024/25 tax year in full swing, here’s how to structure your income for optimal tax efficiency. Key Considerations When deciding on a director’s salary, you must consider several […]
National Minimum Wage Increases
The UK’s New National Minimum Wage 2025 Thresholds: What You Need to Know The UK government is set to introduce new minimum wage rates in April 2025, marking one of the most significant pay rises for low-income workers in recent years. With the cost of living continuing to be a pressing issue, these changes aim […]
Personal Savings Allowance
Understanding the UK Personal Savings Allowance: A Guide for Savers When it comes to saving money in the UK, one of the key benefits available to individuals is the Personal Savings Allowance (PSA). Introduced in April 2016, the PSA allows taxpayers to earn interest on their savings without having to pay tax on it—up to […]
How Do You Know You Are On The Correct Tax Code?
First Of All – What Is A Tax Code? As stated on the HMRC website “Your tax code is used by your employer or pension provider to work out how much Income Tax to take from your pay or pension. HMRC will inform them which code to use.” What Your Tax Code Means 1257L is […]
National Minimum Wage 24/25
Keep up to date with PAYE & Pensions with Genesis National Minimum Wage Ensuring you are paying the correct national minimum wage is crucial for both legal compliance and fair treatment of your employees. The minimum wage changes every April and below you will find the current hourly rates. NMW rate from 1 April 2024 […]