Topic Collection
The term DHSC social care income tax refers to reports that officials in the Department of Health and Social Care have examined a new earnings-based contribution to help fund major reforms to adult social care. No new social care income tax has been announced, approved by Parliament or added to workers’ payslips. However, one reported […]
Landlords who have received rental income without reporting the correct amount of tax should consider making an HMRC landlord tax disclosure as soon as possible. HM Revenue and Customs operates the Let Property Campaign, which allows individual residential landlords to voluntarily disclose previously undeclared rental income. After notifying HMRC, the landlord will normally have 90 […]
Electric car drivers in the UK will face a new pay-per-mile road tax from 1 April 2028. Officially known as Electric Vehicle Excise Duty, or eVED, the charge will be calculated using the number of miles recorded on a vehicle’s odometer. Battery-electric and hydrogen fuel-cell cars will initially be charged 3p per mile, while plug-in […]
The Costa Coffee franchise cost is not publicly confirmed as a single fixed amount. Costa Coffee does not publish a standard UK franchise fee, royalty percentage, minimum personal investment or complete shop-opening package on its public website. Independent UK franchise platforms commonly estimate that opening a Costa Coffee location could require approximately £250,000 to £800,000, […]
Making Tax Digital for Income Tax is now compulsory for the first group of self-employed people in the UK. From 6 April 2026, qualifying sole traders and landlords must keep digital financial records, submit quarterly updates to HM Revenue and Customs and complete their annual tax return using compatible software. The first mandatory group consists […]
To calculate an hourly rate from an annual salary in the UK, divide the gross yearly salary by the total number of contracted working hours in a year. For most salaried employees, the calculation is: Hourly rate = Annual salary ÷ (weekly contracted hours × 52) For example, an employee earning £30,000 a year and […]
Working Tax Credit was a means-tested benefit that provided financial support to employed and self-employed people on low incomes. However, Working Tax Credit ended on 5 April 2025, meaning no new claims can be made and no further Working Tax Credit payments are issued in 2026. People who need help with living costs while working […]
Adding business use to an existing UK car insurance policy may cost nothing with some insurers, while other motorists may pay approximately £10 to £50 extra per year for basic Class 1 business use. However, there is no standard surcharge, and some drivers can face an increase of £100 or several hundred pounds where the […]
The break-even point is the level of sales at which a business’s total income equals its total costs. At break-even, the business has covered its fixed and variable costs but has not yet made a profit. The standard formula is: Break-even point in units = Fixed costs ÷ Contribution per unit Contribution per unit is […]
The typical self-employed painter and decorator hourly rate in the UK is approximately £25 to £40 per hour for standard residential work in 2026. An established decorator may charge £35 to £50 per hour, while specialist services or work in London can cost £40 to £60 per hour or more. Day rates commonly range from […]
