With the new school term starting, HM Revenue and Customs (HMRC) is reminding families to open a Tax-Free Childcare account today to save up to £2,000 per child on their yearly childcare bills. Families can use their Tax-Free Childcare account…
Self Assessment customers can help themselves by filing their tax return early
Self Assessment customers could take advantage of four key benefits when filing their tax return early, HM Revenue and Customs (HMRC) has revealed. The Self Assessment deadline for the 2022 to 2023 tax year is 31 January 2024. Customers who…
Self Assessment customers could be a target for fraudsters, HMRC warns
HMRC is urging Self Assessment customers to be alert to fraudsters and scams that ask for their personal information or bank details. Self Assessment customers, who are starting to think about their annual tax returns for the 2021 to 2022…
Prepare for the Health and Social Care Levy
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…
Over 10.2 million filed their Self Assessment by 31 January
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…
Marriage Allowance
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…
Increase to dividend tax rates
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%,…
Class 4 NIC rates to increase
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
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…
Autumn Budget 2021
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…