Find out about the Health and Social Care Levy including how it might affect your National Insurance contributions. What the changes are and when they will affect you For tax year 6 April 2022 to 5 April 2023 Employer Class…

Millions of customers have filed their Self Assessment tax return by the deadline. For any Self Assessment customer who is yet to pay their tax bill or set up a payment plan, interest will be applied to outstanding balances from…

HMRC is reminding married couples and those in civil partnerships to sign up for Marriage Allowance  Marriage Allowance allows married couples or those in civil partnerships to share their personal tax allowances if one partner earns an income under their…

Dividend tax rates to increase by 1.25% from April 2022 The government have announced an increase in dividend tax rates by 1.25% from April 2022. The current dividend tax rate on basic rate taxpayers will increase from 7.5% to 8.75%,…

Self employed class 4 NIC rates to increase by 1.25% from April 2022 It was confirmed that the 1.25% increase will also be applied to the Class 4 National Insurance rates paid by the self-employed. This means that the current…

Making Tax Digital (MTD) for Business revised dates: Income Tax Self-Assessment (ITSA): From April 2024: self-employed businesses and landlords with business turnover above £10,000 report under MTD for ITSA. From April 2025: general partnerships join. From April tba: other income…

The Chancellor made no new announcements in respect of tax penalties, compliance and administration in his Autumn Budget 2021.  Discovery Assessments With retrospective effect:  Finance Bill 2022 will include amendments to the Discovery provisions to ensure that HMRC can use…

Furlough to be extended until the end of September Government to continue paying 80% of employees’ wages for hours they cannot work Employers to be asked to contribute 10% in July and 20% in August and September Support for the…

A director’s loan is when you (or other close family members) get money from your company that is not: a salary, dividend or expense repayment money you’ve previously paid into or loaned the company Records you must keep You must…

You had the option to defer your second payment on account if you were: registered in the UK for Self Assessment and finding it difficult to make that payment by 31 July 2020 due to the impact of coronavirus You…