What is Stamp Duty?
‘Stamp Duty Land Tax’, to give it its full name, is a tax you have to pay on any property or land you buy over a certain price in England, Northern Ireland and Wales up [...]
July 2018
What does ‘CIS Subcontractor’ mean?
Let’s start with what CIS means – the Construction Industry Scheme. So if you are a ‘CIS subcontractor’, it means that you are a working as a subcontractor and you are registered for the Construction Industry [...]
June 2018
How TaxAid supports the voluntary sector
Do you work in the voluntary sector? Find out how TaxAid can help you get the right information for your clients. Many of you working in the voluntary sector may have noticed an increase in [...]
Could TaxAid help you with your tax position?
What is TaxAid? TaxAid is an amazing charity that gives people on low incomes the tax advice they need - for free. ‘Low incomes’ is defined as those earning under £20,000 per year. They are [...]
Find out more about VAT
VAT stands for Value Added Tax and it is a tax payable on most goods and services transactions in the UK and EU. Some items and services are exempt, some are liable for a particular [...]
Am I due a tax rebate?
You can claim a tax rebate whenever you have made a tax overpayment. This sounds so much simpler than it is. Literally millions of taxpayers do not know that they have made a tax overpayment. [...]
May 2018
Do you know what tax you have to pay on your pension?
I have to pay tax on my pension? The short answer is, yes you do have to pay tax on your pension because some pension money is classed as taxable income. So, if your income [...]
Watch out for fake HMRC texts and emails
Thousands of scam sites shut down by HMRC The figures relating to the number of scam sites are astonishing. Just in March 2018, HMRC asked for 2,672 fake websites to be taken down. 84,549 reports [...]
What does HMRC do?
Anything you read about tax will inevitably include references to HMRC. Most people writing about tax assume that their readers already have all the insider knowledge and vocabulary they need. At Tax Banana, we don’t [...]
What is my National Insurance Number for?
Your National Insurance Number is your unique reference number which records the amount of National Insurance (NI) payments you have made. It is a combination of letters and numbers and it stays the same throughout [...]