Taxable & tax-free state benefits
While there are many state benefits available, it is not always clear which of these are taxable and which are tax-free.
HMRC’s guidance outlines the following list of the most common state benefits
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Pay for imports declared via the CDS
If your business imports goods into the UK, it is important to be familiar with the Customs Declaration Service and to ensure that any duty payments are made correctly and on time to avoid delays,
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Deduction of tax on yearly interest
The tax legislation requires the deduction of tax from yearly interest that arises in the UK. This typically refers to interest that is subject to Income Tax or Corporation Tax.
The legislation
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Claiming 4-years Foreign Income and Gains relief
The remittance basis of taxation for non-UK domiciled individuals (non-doms) was replaced with the new Foreign Income and Gains (FIG) regime from April 2025. This new regime is based on tax residence
