You may have to pay additional tax if you receive child benefit and have income over £50,000 You are entitled to child benefit if you have parental responsibilities for children under the age of 16. It's the governments way of acknowledging the significant cost of raising a child and adds up to a valuable benefit over the course of childhood. However, if you or your partner has adjusted income* of over £50,000 and one of you is receiving child benefit, then the higher earner

Check if you have any gaps in your National Insurance record

Hint: almost definitely yes! When does that hobby turn into a business? That side-line become taxable? 'Trade' Trading profits are taxable. So what is 'trade? There is no statutory definition, but indicators have emerged through case law. The following 'badges of trade' indicate trading is taking place: Was the intention to make a profit? Yes indicates trade (even if you actually make a loss) Is it a one off or are there repeated transactions? The more repeated and system