In a sweeping and ambitious 2024 Autumn Budget, Chancellor Rachel Reeves has set the stage for what she calls a “decade of national renewal.” It’s a vision framed around revitalising public services, bolstering economic stability, and reforming the tax system to align with modern demands. With a massive £40 billion tax initiative and expansive funding for health, education, and green infrastructure, the budget represents Labour’s first opportunity in over a decade to reshape the British economy.

The government intends that Making Tax Digital (MTD) for income tax will eventually apply to most people who are self-employed and/or receive property income. It was originally due to become mandatory from April 2024 for those with annual gross income of £10,000 or more from self-employment and property letting. However, the government announced in December 2022 that they would be allowing more time for both businesses and landlords and HMRC to get prepared for the introduction of the new programme.

Self-employed delivery drivers and cab drivers are on the rise in the UK, with courier work becoming an increasingly popular side hustle. Whether you deliver just 1 day a week or 7 days a week in London, it's important to understand the tax implications and how to file a tax return as a self-employed delivery driver.

Most of us will expect to receive a state pension when we retire. The system, who qualifies and how much you will receive can be complicated so it makes sense to understand what you will be entitled to.

When you will receive the state pension depends on the date you were born, how long you have been in employment and how many years of National Insurance payments you have made. Your gender can also make a difference depending on your age and when you retired.

The Basic Rule

According to Income Tax Act 2007 (ITA2007/S836), where the property is held in joint names of husband and wife, each spouse is treated as beneficial entitled to the income in equal shares e.g. 50:50 for income tax purposes.