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Personal Tax

Reminder to register for self assessment tax returns by 5 October

HMRC is reminding anyone who is new to self assessment for the 2022 to 2023 tax year to register with HMRC by 5 October or face penalties

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Child Benefit - Tax Implications for High-Income Earners

Parents and carers need to be aware that if either of the couple have ‘adjusted net income’ in excess of £50,000 then the one with the higher income will potentially be charged to tax on some or all of the child benefit and will need to request a self-assessment tax return

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Check what your tax code means

HMRC have released a new online tool to help taxpayers understand what their tax code means.

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Filing your Self-Assessment return early

Taxpayers could take advantage of four key benefits when filing their tax return early, HM Revenue and Customs (HMRC) has stated.

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Use Tax Free Childcare Account to pay for Summer Holiday Clubs

Tax-Free Childcare accounts can be used to pay for approved childcare for children aged 11 or under, or 16 if the child has a disability. This can include paying for a summer holiday club or childminder.

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Government funding for free childcare offers

Nurseries are set to receive £204 million as part of the Government’s promise to deliver the largest ever investment in childcare.

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Deadline for topping up NI contributions extended again to 5 April 2025

With all of the changes to personal pensions in the Spring Budget, maximising the State Pension entitlement should not be overlooked

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Retirement planning – are you on track?

The closer you are to retirement, the more important your retirement planning becomes.

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Can we still be paid £6 a week for working from home?

During the COVID pandemic the government relaxed the conditions to enable those working from home to be paid £6 a week tax free by their employer, or, where that was not paid by the employer, they could claim relief for £6 a week against their employment income for a tax refund from HMRC.

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MPs want answers on reason for HMRC helpline closure

The Treasury Committee has asked HMRC to explain the rationale for closing the self assessment helpline for three months

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HMRC extends deadline for voluntary NICs to April 2025

HMRC has extended the voluntary national insurance contributions (NICs) deadline until 2025.

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Are you claiming a tax refund for all your work expenses?

HM Revenue & Customs (HMRC) is reminding employed workers that they can claim a refund on work-related expenses directly through GOV.UK.

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Self-Assessment: Be alert to potential scams

Self-Assessment customers, who are starting to think about their annual tax returns for the 2022 to 2023 tax year, should guard against being targeted by fraudsters, warns HMRC.

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Managing inheritance tax

Like many other taxes, inheritance tax (or IHT) allowances have been frozen. This sounds generous of the chancellor at a time when the government is strapped for cash. But it actually means that we are paying more.

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Check your entitlement to the State Pension now

If you are planning to claim the UK state pension you should check your national insurance (NI) record before 5 April 2023. At present, voluntary contributions can be made to plug gaps back to April 2006, but this will be curtailed from April.

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Employees need to check their tax codes for errors

The majority of employers report errors with employee tax codes, while there can be long delays in resolving allocation of the wrong tax code at HMRC

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Give the gift of Marriage Allowance on Valentine’s Day

Married couples are being urged to consider giving the gift of Marriage Allowance to their husband, wife or civil partner this Valentine’s Day, and save up to £252 a year.

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Pre-April tax planning

The new tax year starts 6 April 2023, so you have a couple of months to consider your tax planning options

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Influencers and online sellers targeted by HMRC for unpaid tax

In the latest wave of nudge letters, HMRC has sent letters to online sellers, influencers and content creators warning them that they have not paid enough tax

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Government extends Mortgage Guarantee Scheme

The Mortgage Guarantee Scheme will be extended by a year to the end of December 2023, helping people with 5% deposits on to the property ladder

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