The increasingly complicated tax rules mean that even the simplest tax return is likely to run into non-compliance issues with the chance of punitive HMRC penalties for failure to file correctly. Yvette Nunn CTA, founder of Berkeley Associates, speaks from experience
If it is tough for us to keep up-to-date when we see the issues day in and day out, how about ordinary taxpayers trying to do their own tax? I have lost track of how many times recently I have replied to a query with, ‘it has been abolished’. This neatly leads to national insurance contributions (NICs), Class 2 to be precise. The question is do you know if it is in, or out? Are you on top of the government’s, yet another, change of mind?
Just to recap, when Chancellor, George Osbourne announced in 2015 that he was abolishing Class 2 (the self employed NIC ‘stamp’ as it is known by most), it was to be abolished with effect from April 2018, but his successor Chancellor, Philip Hammond announced a delay to April 2019. Now the abolition is being abolished, I do hope you are keeping up.
P
