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SA900 Trust tax free amount from 6 April 2024
From 6 April 2024, HMRC abolished the default standard rate band (£1,000) for income tax on trusts and estates. Instead HMRC have introduced a £500 tax free amount on which UK trusts and estates do not pay income tax, providing total income does not exceed £500. If income exceeds £500, tax...
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03 Feb, 2026
Views: 369
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Do we store customer data (Individual users)
Unfortunately TaxCalc does not store individual user tax returns on our server. This is due to the Data Protection act which does not allow TaxCalc to hold personal and confidential information about our customers. Tax returns must be saved either locally on your machine or to an external...
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29 Mar, 2023
Views: 258
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Furnished Holiday Lets abroad
To qualify as a FHL a property must: be let on a commercial basis with the view to realisation of profit, be in the UK or in the European Economic Area (EEA): the EEA includes Iceland, Liechtenstein and Norway; and be furnished: there must be sufficient furniture provided for normal...
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17 Mar, 2026
Views: 148
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HMRC Filing Exclusions and Special Cases 2024/25
HMRC Filing Exclusions 2024/25 Exclusions have arisen due to the previous introduction of additional allowances and bands for certain types of income, making the calculation of the tax liability more complex. HMRC systems expect our software to match their method of calculation in order for the...
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12 Mar, 2026
Views: 131
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Foreign Income and Gains - what is the temporary repatriation facility (TRF) ?
The temporary repatriation facility (TRF) was introduced in the Finance Act 2025 to replace the remittance basis for UK non-domiciled residents and remove domicile as a tax factor, allowing eligible UK-resident individuals to designate pre-6 April 2025 foreign income and gains (FIG) and pay a...
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14 May, 2026
Views: 108
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