Check if you need to declare income from selling personal possessions, goods or services online, creating online content or renting out property using digital platforms. You may need to tell HMRC if you receive income through an online marketplace or…
Income Tax: Increasing the High Income Child Benefit Charge threshold
High Income Child Benefit Charge (HICBC) adjusted net income threshold will increase to £60,000, from 6 April 2024. For individuals with income above £80,000, the amount of the tax charge will equal the amount of the Child Benefit payment. …
Child Benefit rates go up on 6 April 2024.
Families with one child will now receive up to £1,331 a year – an annual increase of £83.20, and up to £881 a year per additional child – an annual increase of £54.60. There is no limit to how many…
UK’s principal mortgage lenders and the Financial Conduct Authority (FCA) to agree support for people struggling with mortgage repayments.
The latest market indicators (FCA; UK Finance) show that mortgage arrears and defaults remain below pre-pandemic levels, which were themselves extremely low. The FCA reported 0.86% of total residential mortgage balances in arrears in the first quarter of 2023 which…
Families urged to boost their back-to-school budget with Tax-Free Childcare
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…