Struggling families have been given the welcome news that their broadband bills could be cut as the cost-of-living crisis continues to bite. Millions of low-income households could be eligible for cheaper deals with internet service providers being encouraged by the Government to offer ‘social tariffs’. A new service, which goes live this week and is […]
Late taxpayers will be facing higher interest rates from this week following the rise in the Bank of England base rate. HMRC’s interest rates for late payment are linked to the base rate that was increased to 1.75% from 1.25% earlier this month. The changes will come into effect on: 15 August 2022 for quarterly […]
Abuse of the Bounce Back Loan scheme is continuing to land people in court as the Insolvency Service tightens its net around those who have misused the cash designed to help businesses during the pandemic lockdowns. Five individuals have separately been made subject to bankruptcy restrictions totalling 48 years for exploitation of the initiative, which […]
Abuse of the Bounce Back Loan scheme is continuing to land people in court as the Insolvency Service tightens its net around those who have misused the cash designed to help businesses during the pandemic lockdowns. Five individuals have separately been made subject to bankruptcy restrictions totalling 48 years for exploitation of the initiative, which […]
Thousands of couples could be missing the opportunity to reduce their tax by £250 a year. Married couples and people in civil partnerships can sign up for Marriage Allowance, which allows them to share their personal tax allowances if one partner earns below the Personal Allowance threshold of £12,570, and the other is a basic […]
Businesses are being warned they could risk significant delays to importing goods if they don’t move to the UK’s new streamlined customs system. Organisations submitting import declarations must use the Customs Declaration Service from 1 October 2022, when the Customs Handling Import and Export Freight (CHIEF) system will close for import declarations. Businesses should check […]
Families struggling to make ends meet in the cost-of-living crisis will be able to take advantage of special deals over the summer holidays. Some of the UK’s biggest businesses have signed up to offer discounts and deals through the Government’s Help for Households Campaign. Asda, Morrisons, Amazon and Vodafone are among those supporting the initiative […]
1 August 2022 – Due date for corporation tax due for the year ended 31 October 2021. 19 August 2022 – PAYE and NIC deductions due for month ended 5 August 2022. (If you pay your tax electronically the due date is 22 August 2022) 19 August 2022 – Filing deadline for the CIS300 monthly […]
There are certain circumstances when you will pay Capital Gains Tax when selling personal possessions. You may have to pay Capital Gains Tax if you make a profit (‘gain’) when you sell (or ‘dispose of’) a personal possession for £6,000 or more. For example, you may need to pay tax on sale of personally owned […]
Now our present Prime Minister has indicated his intention to resign it seems unlikely that a successor will be appointed before September. Which means Boris Johnson’s cabinet are caretakers for the interim period and it is doubtful that there will be any far-reaching changes to UK taxes. The new Prime Minister and his or her […]