Number of early self assessment filers doubles in five years
The number of self assessment taxpayers filing their tax return on the first day of the tax year has more than doubled since 2018, HMRC has revealed. More than 77,500…
Blog Posts
Don’t miss out on a tax refund for work expenses, HMRC urges
HMRC is reminding employed workers they can claim a refund on work-related expenses on the GOV.UK website. More than 800,000 taxpayers claimed refunds for work expenses during the 2021/22 tax…
Tax threshold freeze trebles to £25 billion
Research carried out by think tank the Resolution Foundation has suggested that the size of the UK’s six-year ‘stealth tax’ threshold freeze has nearly trebled to £25 billion. The figure is significantly…
Summer 2023 Newsletter
It’s taking a while to shake off colder temperatures, although there are glimpses of warmer weather ahead. The same might be said of the economy, with the Office for Budget…
Taxpayers given more time for voluntary national insurance contributions
The government has extended the voluntary national insurance deadline to give taxpayers more time to fill gaps in their contributions and boost their state pensions. The extension comes after members…
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…
Budget 2023 Guide
The Spring Budget was delivered by the Chancellor Jeremy Hunt on Wednesday 15 March. After presenting a Budget-in-all-but name with the Autumn Statement, the Spring Budget was delivered against the…
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