Self assessment deadline approaching
The deadline for submitting your 2018/19 self assessment return is 31 January 2020. The deadline applies to taxpayers who need to complete a tax return and make direct payments to…
Tax
Call for review of High Income Child Benefit Charge
The Low Incomes Tax Reform Group (LITRG) is calling on the government to address issues with the High Income Child Benefit Charge (HICBC). The HICBC is designed to claw back…
Retiring clinician’s payments
The Secretary of State has confirmed that the commitments being entered into, to make payments to clinicians affected by annual allowance pension tax, will be honoured when clinicians retire. In…
HMRC Personal Tax Account and your State Pension
There are many benefits to setting up your Personal Tax Account (PTA) and in particular, the ability to check your State Pension position. You can set up your PTA using…
HMRC collects record amounts of IHT
The government has announced that HMRC collected a record sum of £5.4 billion in inheritance tax (IHT) during the 2018/19 tax year. The increase comes on the back of a…
VAT domestic reverse charge for building and construction services delayed
HMRC has announced a one-year delay to the introduction of the VAT domestic reverse charge for building and construction services. The reverse charge represents part of a government clamp-down on…
Tax efficient investments ahead of the tax year end
With the end of the tax year looming there is still time to save tax for 2018/19. Make full use of your ISA allowance – ISAs can offer a useful…
Making Tax Digital for VAT – deadline approaches
Making Tax Digital for VAT has been set up by HMRC to make calculating and submitting VAT returns quicker, easier and more transparent. HMRC estimate that in 2016-17, there was…
Households with landlines should be vigilant
Over recent years HMRC has increasingly cracked down on email and SMS phishing, a number of criminals are turning to cold-calling publicly available phone numbers to steal money from taxpayers….
Scottish income tax bands confirmed for 2019/20
The Scottish Parliament has confirmed the income tax bands that will apply to Scottish taxpayers for 2019/20. The bands confirm the announcement made in the Draft Scottish Budget last December….
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