Further changes to National Insurance Contributions (NIC) kick in from July this year and will be a welcome boost for most taxpayers who suffered an increase in April.
Discovery assessments: Catch up with the latest changes
Discovery assessments look set to be applied to the High-Income Benefit Charge under new legislation set out by the Government.
Nearly 100,000 taxpayers spread cost of tax bill into manageable monthly instalments, HMRC reveals
Nearly 100,000 taxpayers used HM Revenue & Customs’ (HMRC) Time to Pay self-serve facility to spread the cost of their 2020/21 tax bill, it has been revealed.
Tax relief: Are you missing out on up to £2,000 a year towards the costs of childcare?
Workers can claim up to £2,000 a year towards childcare costs by signing up to the Tax-Free Childcare scheme, it has been reminded.
How the penalty system for late tax submissions is changing
Under new rules set by the Government, the system of penalties for VAT and Income Tax Self-Assessment (ITSA) are changing. The new system of fines is aimed at tackling non-compliance by taxpayers who repeatedly fail to meet their obligations to provide returns and other information requested by HMRC. Those who make occasional and infrequent mistakes […]
Personal tax: Take home more of what you earn with these tax-saving tips
More workers than ever are finding themselves getting close to or exceeding the higher rate tax bracket, recent figures have revealed. In this blog, we are going to share nine essential tips employees can use to keep themselves out of the higher rate tax bracket and take home more of what they earn. Flat rate […]
UK house prices hit significant record
According to the UK’s largest mortgage lender, Halifax, house prices in the UK hit a significant record during August but the yearly growth pace in property values slowed.
Personal tax: Thousands of parents “missing out” on Tax-Free Childcare
HM Revenue & Customs (HMRC) has reminded parents that they may be eligible for Tax-Free Childcare ahead of the new academic year. The tax authority said thousands of families may be missing out on thousands of pounds in tax relief every year. If you are a working parent, here’s what you need to know. What […]
Tax-related scams double during coronavirus pandemic, figures reveal
Tax-related scams have almost doubled in the past 12 months, HM Revenue & Customs (HMRC) has revealed. The tax authority said the coronavirus pandemic has created a perfect environment for criminals to operate in. According to the most recent figures available, HMRC received more than one million referrals from the public about “suspicious contact” in […]