HMRC late payment interest rate hits 6.75%
HMRC has revised interest rates with late payment bills charged 6.75% from 13 April, the highest level since January 2008 The late payment and repayment interest rates follow the rise in…
HMRC issues guidance on abolition of pensions lifetime allowance
HMRC recently issued preliminary guidance in regard to the abolition of the pensions lifetime allowance. At the Spring Budget, Chancellor Hunt announced that the lifetime allowance charge will be removed from 6…
Business groups welcome Spring Budget
The UK’s business groups largely welcomed the measures taken in the Chancellor’s Spring Budget. The Confederation of British Industry (CBI) branded the Budget as a ‘strong second act’ in Mr Hunt’s plan for…
Capital allowances reformed in ‘Budget for growth’
A £27 billion transformation of capital allowances from April was announced by Chancellor Jeremy Hunt as he delivered a ‘Budget for growth‘. The Spring Budget followed an improved forecast from the Office for…
Property tax – teaming up with Whitegates
Have you considered all things tax when it comes to property? We are pleased to announce that Whitegates have chosen to team up with Simpson Wood to ensure their clients are…
State Pension Forecast
How do I obtain full state pension? In general, to qualify for the maximum ‘new state pension’ (received by those retiring on or after 6 April 2016) a person must…
HMRC urges eligible couples to claim Marriage Allowance
HMRC has reminded married couples eligible for the Marriage Allowance to make use of the tax relief. Over 2.1 million couples currently benefit from the Allowance, HMRC said. Married couples…
Record 11.7 million tax returns received on time
A record 11.7 million self assessment taxpayers submitted their tax returns by the 31 January deadline, HMRC has revealed. The final day for self assessment returns saw 861,085 customers file…
Tax and residential property
Whether you’re thinking about buying, selling or letting a residential property, there are a few tax points you will want to consider that might influence how you structure the way…
Government launches consultation on R&D relief
The government has launched a consultation on simplifying the UK’s research and development (R&D) tax relief system, driving innovation and growing the economy. The consultation runs to 13 March 2023 and…
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