People are losing out on hundreds of pounds after being enticed into using third-party companies to claim tax rebates instead of going directly to HMRC, a Which? investigation has found. Read the Which? report here.
Category: Featured
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This short piece published by HMRC seeks to dispel common myths around taxation.
The filing and payment deadline for Income Tax Self Assessment is 31st January 2022. HMRC have announced that this deadline will be extended, to reduce pressure caused by Omicron related staff shortages.
A step by step explaining how to hire a new worker from outside the UK.
An additional £30 million in emergency funding has been made available through the Culture Recovery Fund to support museums, cinemas, theatres and heritage organisations with the impact of the Omicron variant this winter.
Additional support will be available for businesses who have been impacted by the Omicron variant, the Chancellor, Rishi Sunak announced today (21 December).
WRIT was introduced on 6th April 2019. Income tax is partially devolved to Wales, which means that while the Welsh Government is able to vary the three income tax rates (basic, higher and additional) for Welsh taxpayers, all other aspects of the tax remain the responsibility of the UK government, and HMRC continues to administer income tax in Wales.
HMRC interest rates for late payments will be revised following the Bank of England interest rate rise to 0.25%.
The Government has temporarily extended the self-certification of sickness from 7 to 28 days.
More than 2.7 million customers claimed at least one Self-Employment Income Support Scheme (SEISS) payment up to 5 April 2021. These grants are taxable and customers should declare them on their 2020 to 2021 tax return before the deadline on 31 January 2022.
Changes to Income Tax Bands in the 2022-23 Scottish Budget
As you start to plan your festivities and you purchase your Christmas food and gifts. There are some simple steps we can take to make Christmas more sustainable.
The government is naming and shaming businesses which failed to pay the minimum wage to 12,000 of the lowest paid workers.
The Rural Payments Agency has paid out just over 97,500 claims, totalling £1.725bn for farmers in the first few days of the payment window, which runs between December and June.
More than 20,000 Self Assessment customers have used HM Revenue and Customs (HMRC) online monthly payment plan service since April to spread the cost of their tax bill, totalling £46 million so far, it has been revealed.
The Department for Work and Pensions’ (DWP) Access to Work Adjustment Passport will ease the transition from university into employment by reducing the need for repeated health assessments when starting a new job.
If you’re a trader, a number of things are changing from 1 January 2022. This information will help you get ready.
The call for evidence invites views from stakeholders on the role that umbrella companies play in the labour market, and how they interact with the tax and employment rights systems. It sets out the concerns that have been raised by some stakeholders, as well as government action already taken to tackle tax non-compliance and improve protection for workers.
If you’re due to file accounts with Companies House by the end of December, use our online services where possible and allow plenty of time before your deadline.
As announced in the Autumn Budget, the taper rate – the amount that a person’s Universal Credit is reduced by as they earn more – has dropped from 63% to 55%. Simultaneously, work allowances, the amount eligible claimants can earn before their Universal Credit is reduced, have increased by £500 per year.
One year ago today, the government launched the points-based immigration system and opened the Skilled Worker Visa, marking the UK’s biggest shift in immigration policy in recent history.
As part of Tax Administration and Maintenance Day the government has set out further detail on its work to deliver a modern, simple and effective tax system - which helps taxpayers get their tax right the first time.
The Department for Work and Pensions has outlined proposals to enable automatic enrolment pension schemes to make greater use of performance-based fees, which are payable to an investment manager only if they generate high returns on their investments.
The Post Office Card Accounts (POca) scheme was previously set to end in November this year. Following the disruption caused by the pandemic, it has now been extended for 12 months to ensure everyone has the time to make alternative arrangements.
The Department for Work and Pensions has implemented a reduction to the Universal Credit taper rate to increase claimants’ work allowances, effectively giving the lowest paid workers on Universal Credit a tax cut worth £2.2 billion.
The National Apprenticeship Week 2022 theme of ‘Build the Future’ continues from 2021, and focuses on the benefits apprenticeships can have on individuals, businesses, and local communitie
Job scams are on the rise, and in 2020, seasonal job scams increased by 88% compared to 2019. With figures predicted to increase again this year, it’s important to remain vigilant and familiarise yourself with the signs of a potential job scam or fraudulent job advert.
The government has introduced a 1.25% Health & Social Care Levy, which will come into effect from April 2022. For the first year, the Levy will take the form of an increase to National Insurance Contributions. To educate the public of this change, the Government has requested that payslips created within the April 2022-23 period are updated to display an explanatory note.
Hundreds of thousands of people will benefit from the new rules outlined by the Department for Work and Pensions (DWP) yesterday (Tuesday 9 November 2021), which will introduce a threshold at which pensions providers will no longer be able to charge a flat fee to savers.
Health and social care providers in England will be required to ensure workers are fully vaccinated against COVID-19, unless they are exempt, under plans announced by the Health and Social Care Secretary.
New laws and a Code of Practice are being introduced to resolve the remaining commercial rent debts accrued because of the pandemic, Business Secretary Kwasi Kwarteng has announced today.
Following its announcement in 2014, this measure increases the normal minimum pension age (NMPA), which is the minimum age at which most pension savers can access their pensions without incurring an unauthorised payments tax charge unless they are retiring due to ill-health, from age 55 to 57 in April 2028.
Chris Larmer, Student Loans Company Executive Director, Operations statement on first term student loan payments.
Figures show a further 210,000 employees came off the scheme in September – and around half of the 1.1 million people still being supported were on flexible furlough working some of their hours.
COVID-19 has highlighted the limited scope to make changes to the current benefits in kind and expenses tax system to respond quickly to the pandemic. The government has had to introduce primary and secondary legislation with temporary effect to respond to the pandemic, to exempt a number of benefits in kind, change the qualifying conditions of certain benefits and provide relief for specified expenses and reimbursements.
The full list of Income Tax & National Insurance rates and bands.
• Health and Social Care Levy, along with an increase to the rates of dividend tax, will raise around £13 billion per year for spending on health and social care across the UK • 50% business rates discount for businesses in the retail, hospitality, and leisure sectors in England • From 1st April 2022 the National Living Wage will increase by 6.6% to £9.50 an hour. • The first Freeport tax sites will be in Humber, Teesside and Thames, and those Freeports will be able to begin initial operations from November. • Increasing public investment in UK R&D to £20 billion by 2024-25
The National Living Wage (NLW) will rise to £9.50 from 1 April 2022. This represents an increase of 59 pence or 6.6 per cent, based on the Low Pay Commission’s recommendations. The recommendations were unanimously agreed by Commissioners and accepted in full by the Government.
Three directors have been banned following investigations which found that nearly £100,000 worth of Bounce Back loans had been inappropriately applied for, or misused. The Bounce Back Loan (BBL) scheme ran to March 2021 and provided loans of up £50,000 to help businesses survive the impact of COVID-19.
Raising finance is important in allowing a business to function. In particular, working capital enables the day-to-day operations of the business. The need for this finance was the main focus for all businesses during the pandemic, especially for the smaller ones.
The government has made 2 separate announcements that will affect public service pension schemes: One will allow the 2016 valuations to complete. The other sets out how the cost control mechanism will be reformed going forward, starting from the forthcoming 2020 valuations.
The Home Office has announced a further £3 million to help vulnerable and at-risk EU citizens apply to the EU Settlement Scheme (EUSS).
Plans to make it easier for the public to access online government services via an app have been set out today by Chancellor of the Duchy of Lancaster Steve Barclay.
The deadline to complete a tax return for the 2020 to 2021 tax year is approaching.
A range of government programmes, some of which offer financial incentives, are available for employers who are considering hiring employees, offering work experience or upskilling existing staff.
Plans to ensure that Britain’s homes and businesses are powered by affordable, clean and secure electricity by 2035 have been unveiled by the government.
Teachers in the early years of their careers will be able to get a salary boost of up to £3,000 tax-free to teach maths, physics, chemistry and computing.
More than a quarter of a million workers left the furlough scheme in August – an 85% reduction since its peak, according to new statistics published today.
HMRC urges tax credits and Child Benefits customers with a Post Office card account to update HMRC with their new bank account details by 30 November 2021.
Workers leaving the furlough scheme and unemployed people over the age of 50 will be helped back into work as part of more than £500m expansion of the government’s Plan for Jobs.