Five HMRC perks to save £1,000s before tax year ends next week

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Spring Budget 2024: How income tax and National Insurance work

THE tax year is drawing to a close within days, so now is the time for households to make sure they've utilised all the tax perks on offer.

Here, we outline all of the tax perks on offer and how to get your claim in before the tax year ends.We all know childcare costs a fortune, but there are actually a number of tax breaks available just for caring for your kids.You can claim the allowance in instalments of £500 every three months, and you can claim double if you're claiming for a disabled child.

You can rent your home on Airbnb while you are on holiday or let out your driveway to commuters for a bit of extra cash, and as long as you earn below the £1,000 threshold, you don't need to pay a penny in tax.Renters need to get their landlord’s permission to let out their house while they are away, while both homeowners and renters should check with their home insurer first.

 

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