300,000 file tax returns in the first week of the tax year
Almost 300,000 self assessment taxpayers filed their return in the first week of the new tax year, HMRC has revealed. The early filers were almost 10 months ahead of the…
Taxpayers spend total of 800 years waiting to speak to HMRC
UK taxpayers spent the equivalent of 800 years on hold to HMRC in 2022/23, according to a report published by the National Audit Office (NAO). The report found that funding…
Next government will need to build trust between HMRC and self-employed
The next government must take a direct hand in rebuilding trust between HMRC and the self-employed, according to the Association of Independent Professionals and the Self-Employed (IPSE). The call is…
More than seven million adults still struggling to pay bills, finds FCA
Around 7.4 million people in the UK struggled to pay a bill or a credit repayment in January, according to the Financial Conduct Authority (FCA). The figure is lower than…
HMRC clarifies tax rules for WFH commuting
HMRC has updated guidance on when tax relief is available on travel expenses for staff who work from home. The tax authority is responding to the growth of flexible or…
Jeremy Hunt cuts NICs again in the Spring Budget
The Chancellor made further changes to National Insurance contributions (NICs) following the cuts made in the Autumn Statement 2023. The rates for NICs will be cut by two percentage points…
Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 March 2024. The guidance states: ‘you can use the previous rates for up to one month from…
Double-cab pickups go back to being vans as guidance reversed
Just a week after HMRC released new guidance that classed double-cab pickups as cars rather than vans, the government reversed the decision. On 19 February, HMRC confirmed that it’s reversing…
HMRC sends warning to cryptoasset users
As the use of cryptoassets continues to grow HMRC is warning people to check if they need to complete a self assessment tax return for the 2022/23 tax year to avoid…
National Insurance changes ‘ease burden on strivers’
The changes to National Insurance contributions (NICs) announced by Chancellor Jeremy Hunt in the Autumn Statement will help to ‘ease the burden on strivers up and down the country‘, according to…
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