Day: March 30, 2026

The traditional approach to remuneration for many owner-managed businesses has typically involved taking a low salary, with the balance of income paid as dividends. The main reason for this has been that dividends are not subject to National Insurance Contributions, which generally results in a lower overall tax cost. However,

“I’m just selling my old clothes on Vinted. Do I need to pay tax?” Usually, no. If you are selling second hand clothes, shoes, toys, books or similar items that you originally bought for yourself, and you are simply getting rid of things you no longer want, HMRC generally does