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A recent HMRC press release confirmed that sole traders and buy-to-let property businesses (but not incorporated businesses) will have an extra year to prepare for the digitalisation of Income Tax. Recognising the challenges faced by many UK businesses and their representatives as the country emerges from the pandemic, and having listened to stakeholder feedback, the […]

The UK Government has announced that further measures will be put in place to help ease supply chain pressures as spikes in demand for fuel create a panic buying hysteria. This added pressure to already stretched supply chains is a further blow to affected businesses across the UK. The Government has announced the new measures […]

1 October 2021 – Due date for Corporation Tax due for the year ended 31 December 2020. 19 October 2021 – PAYE and NIC deductions due for month ended 5 October 2021. (If you pay your tax electronically the due date is 22 October 2021.) 19 October 2021 – Filing deadline for the CIS300 monthly […]

University students taking part-time jobs are at increased risk of falling victim to scams, HMRC is warning. Higher numbers of students going to university this year means more young people may choose to take on part-time work. Being new to interacting with HMRC and unfamiliar with genuine contact from the department could make them vulnerable […]

In a recent press release issued by the Department for Digital, Culture, Media and Sport, with the leading title “Unleashing Data’s Power”, it was announced: “The Information Commissioner’s Office (ICO) is set for an overhaul to drive greater innovation and growth in the UK’s data sector and better protect the public from major data threats, […]

From April 2022, in line with announcements made last month, National Insurance Class 1 contributions (that will affect employed persons and their employers) and Class 4 contributions (that will affect the self-employed), are increasing by 1.25%. These increases will affect all employed and self-employed workers that presently pay National Insurance. This increase will only apply […]

If you have been keeping up with announcements from Downing Street, you will know that from April 2022 the hybrid rates of Income Tax on dividend income are increasing by 1.25 percentage points. The changes from April 2022 are: The first £2,000 of dividends received are free of any additional tax charge, no change here. […]

As well as increasing National Insurance contributions from April 2022 – the 1.25% increase announced earlier this month – the Treasury also increased the hybrid income tax rates applied to dividends received, by the same amount and from the same date. The changes from April 2022 are: The first £2,000 of dividends received are free […]

HMRC is warning university students new to the world of working to be wary of potential scams. With higher numbers joining university, we are likely to see more students take on part-time work. As many young people may be unfamiliar with HMRC and legitimate contact from the department could make them vulnerable to scams. There […]

No surprises when the Prime Minister announced a hefty 1.25% increase in NIC Class 1 and Class 4 rates from April 2022. The announcement was widely predicted. Effectively, this is a tax increase on earnings (employed or self-employed) and on costs for employers. It is odd that a 1.25% increase in Income Tax would have […]