Personal Tax

Tax Compliance

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Tax | Warning not to pay tax late due to 7.75% interest rate

Taxpayers are being warned to pay any tax due by the 31 January deadline as HMRC interest rates hit their highest rate for more than 20 years

22 Jan 2024

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Tax | One in three taxpayers struggle with tax returns

A third of people required to complete self assessment tax returns are worried they will make mistakes while over half are not aware of the filing deadline

22 Jan 2024

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Tax | MPs call for review of ‘unaffordable’ loan charge

Victims of the loan charge were the centre of attention at a parliamentary debate, where MPs urged the government to launch an independent investigation into the charge and to focus on promoters instead of taxpayers

19 Jan 2024

Politics

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Tax | HICBC not paid in part due to ignorance of law

A higher rate taxpayer has part won an appeal at the First Tier Tribunal over penalties and payments related to High Income Child Benefit Charge stretching back seven years

19 Jan 2024

Tax | Explained: the tax rules for online marketplace sales

Online platforms will have to report sale details to HMRC in future, but the basic tax responsibilities for individual sellers have not changed. Lee Murphy of The Accountancy Partnership explains

18 Jan 2024

Tax | National Insurance credit scheme to tackle child benefit gaps

The government will legislate to allow parents who have not claimed child benefit, including those affected by HICBC, to apply for top-up National Insurance credits

18 Jan 2024

Tax Compliance

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Tax | What to do when frozen thresholds put you in a higher tax bracket

The freeze on income tax thresholds and changes to dividend and CGT allowances will see millions dragged into higher rates of taxation, but there are ways for higher earners to reduce their tax bill, explains Laura Suter, director of personal finance at AJ Bell

17 Jan 2024

Tax Planning

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Tax | 44k taxpayers sign up to HMRC payment plan

As the deadline to submit a self assessment tax returns looms, nearly 44,800 people have sorted their tax bills totalling almost £148m, by setting up a payment plan

17 Jan 2024

Tax | Postcode mix-up sees Scots given rest of UK tax codes

A mix-up at HMRC saw a small group of residents of a new-build Scottish housing estate issued with the wrong tax code

16 Jan 2024

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Tax | Tips for self assessment tax returns

As the deadline for self assessment approaches on 31 January, Cheryl Sharp, CEO of Pink Pig Financials, sets out the key issues to consider when completing annual tax returns

16 Jan 2024

Tax Compliance

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Tax | Q&A: inheritance tax and succession relief

In this week’s Q&A, the Croner-i VIP Tax Team considers the issue of double inheritance tax and access to Quick Succession Relief (QSR) in the event of two deaths which happen closely together

16 Jan 2024

Tax | Holidaymakers will be charged Greek climate tax

The Greek government has introduced a climate resilience tax on accommodation booked by tourists, charged on a nightly basis

12 Jan 2024

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Tax | CGT allowance reduced to £3k from April

The capital gains tax (CGT) allowance is going to be halved from £6,000 to £3,000 in April, the lowest figure for 40 years

10 Jan 2024