Tax | Frozen thresholds decreasing disposable income

The median household disposable income in the UK in 2023 was £34,500, decreasing by 2.5% from 2022 while those on the lower end of the scale saw a 2.3% increase

24 Sep 2024

Tax

Personal Tax

Budget

Tax | Tax savings moves to make before the budget

Experts, Sarah Coles, head of personal finance and Helen Morrissey, head of retirement analysis from Hargreaves Lansdown recommends tax-saving moves which would be beneficial to make before 30 October

23 Sep 2024

Tax

Personal Tax

HMRC

Tax | Side hustle sales reporting could ‘cause chaos for taxpayers’

HMRC needs to ramp up communications to ensure side hustlers are aware that they need file a tax return as up to two million people could be affected

19 Sep 2024

Tax

Personal Tax

HMRC

Tax | Warning on fake phone calls about undelivered HMRC letters

Scammers are sending taxpayers emails and calling them from UK mobiles telling targets to respond immediately or face legal action

19 Sep 2024

Tax

Personal Tax

HMRC

Tax Compliance

Tax | Beware the tax on cash savings interest

The number of people paying tax on their savings interest is set to hit a record 2.1m this tax year as personal savings allowance fails to keep pace

18 Sep 2024

Tax

Personal Tax

Tax Compliance

Tax Planning

Tax | Call to update NI records to reflect child benefit claims

HMRC is urging parents who claimed child benefit before 2000 to check if they are eligible to increase their state pension 

12 Sep 2024

Tax

Personal Tax

HMRC

Tax Compliance

Tax | Decoding HMRC’s salaried member rules for LLP partners

Changes to the HMRC guidance on salaried member rules post Bluecrest has caused enormous confusion for partners, explains Kiran Chotai, senior manager at haysmacintyre

11 Sep 2024

Tax

Personal Tax

HMRC

Tax Compliance

Tax | Student loan payers face self assessment tax overpayment

HMRC has confirmed that it has still not resolved a problem for graduates with student loans who complete self assessment and receive benefits in kind

10 Sep 2024

Tax

Personal Tax

HMRC

Tax Compliance

Tax | SEIS investment up 188% since Labour won

Flows of new money into the Seed Enterprise Investment Scheme (SEIS) have surged in the last two months after Labour won the general election

10 Sep 2024

Tax

Personal Tax

Tax Planning

Tax | Pay per mile charge for drivers could stop £5bn tax loss

Campaigners are calling on the Chancellor to overhaul road tax urgently and replace it with a pay per mile system as revenues tumble

4 Sep 2024

Tax

Personal Tax

Budget

Tax | Dog breeders must pay tax on £1k plus sales

Any breeder earning more than £1,000 a year from sales is required to declare income and pay tax, but many are evading the law, warns Gavin Nurse, senior tax manager, EQ Accountants

3 Sep 2024

Tax

Personal Tax

HMRC

Tax Compliance

Tax | Sky rugby commentator loses £695k IR35 appeal

HMRC has won an IR35 appeal at the Upper Tribunal against Stuart Barnes, a former rugby player and Sky commentator

29 Aug 2024

Tax

Personal Tax

HMRC

Case Reports

Tax | Tips on how to register for self assessment by 5 October deadline

The deadline for registering for self assessment tax returns is fast approaching and taxpayers must take action as HMRC does not get in touch

29 Aug 2024

Tax

Personal Tax

Tax Compliance

Tax Planning

Tax | Families being stung with shock IHT bills doubles

A freedom of information (FOI) request from Evelyn Partners to HMRC reveals the number of people paying inheritance tax (IHT) on gifts made before death is rising sharply

27 Aug 2024

Tax

Personal Tax

Inheritance Tax

HMRC

Tax Planning

Tax | Top tips to beat the dividend tax trap

Laith Khalaf, head of investment analysis at AJ Bell, explains how investors can reduce their exposure to tax on dividend payments as allowance shrinks away to £500

27 Aug 2024

Tax

Personal Tax

Tax Compliance

Tax Planning