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Government increases interest rate on late tax payments - September 14, 2022
 | HM Revenue & Customs (HMRC) has increased the interest rate applied to late tax payments following the latest hike in the Bank of England base rate. The late payment interest rate increased to 4.25… |
Legislation gives separating couples time to avoid taxation on assets - August 30, 2022
 | Divorcing or separating couples will have more time to get their affairs in order and avoid having to pay Capital Gains Tax (CGT) when new legislation comes into force. Currently, if any transfer arrangements… |
Preparing for Making Tax Digital and income tax - August 30, 2022
 | Self-employed businesses and landlords will come under the umbrella of the Government’s Making Tax Digital from 2024. Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) will be introduced… |
UK residence rules and how much tax you pay - August 30, 2022
 | When it comes to paying tax in the UK, your residence status will affect how much tax you pay on foreign income. HM Revenue & Customs (HMRC) has launched a new tool to define tax residence status and… |
Savers facing being taxed on interest for the first time - August 30, 2022
 | Rising interest rates are a worry for those with a mortgage or loan, but for savers, it means an increase on their investment as savings rates rise. It also presents a challenge and can tip savers into… |
HMRC warns taxpayers to beware of phishing fraudsters - August 30, 2022
 | Cybercrime is on the rise and taxpayers have been warned to beware of fraudsters attempting to steal money and information. The criminals are faking the role of the official bodies like HM Revenue &… |
Back to Basics on Business Mileage - August 9, 2022
 | Ask anyone who either uses their vehicle for business reasons, or puts fuel in a company car, and you will soon realise business mileage can be a confusing topic. It’s important to know that if you fall… |
HMRC set to modernise direct debit system for employer PAYE - August 9, 2022
 | HM Revenue & Customs (HMRC) has announced plans to offer a recurring direct debit to employers as part of their wider payment modernisation programme. At present, employers can only set up a direct… |
I can’t pay my tax bill – what should I do? - August 9, 2022
 | With fluctuating incomes and the costs of living hitting businesses and individuals alike, people who have never previously had any issue with paying tax bills on time may have found themselves passing… |
COVID business loans scheme extended for two years - August 9, 2022
 | The Recovery Loan Scheme, which helped businesses throughout the pandemic, has been extended for a further two years. Launched on 6 April 2021, the Recovery Loan Scheme (RLS) was one of several finance… |
Latest News
Latest NewsJun
Donating to charity is its own reward, but if you are a UK taxpayer and you …
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Jun
Inheritance Tax (IHT) is rarely a popular topic, but with the nil rate band …
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