Looking to get on the property ladder this year? A government support scheme has been extended until the end of the year, The Mortgage Guarantee Scheme, which has already helped 24,000 first-time buyers, will now run an extra 12 months, giving you more time to take advantage. The scheme, which was launched in April 2021, […]
If you’re self-employed and have been worried about the approaching 2024 deadline for transitioning to Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA), you can relax. The Government has made the decision to phase in the mandatory use of software from April 2026, two whole years after the original date. Victoria Atkins, Financial […]
1 January 2023 – Due date for Corporation Tax due for the year ended 31 March 2022. 19 January 2023 – PAYE and NIC deductions due for month ended 5 January 2023. (If you pay your tax electronically the due date is 22 January 2023). 19 January 2023 – Filing deadline for the CIS300 monthly […]
The Chancellor of the Exchequer, Jeremy Hunt has confirmed, in a written statement, that the next UK Budget will take place on Wednesday, 15 March 2023. This will technically be the Chancellor’s first Budget although his Autumn Statement to the House of Commons on 17 November 2022 included many announcements more typically seen in a […]
Last year over 12.5 million taxpayers were required to complete a Self-Assessment tax return but over 2.3 million taxpayers missed the 31 January deadline. The deadline for submitting your 2021-22 Self-Assessment tax returns online is 31 January 2023. You should also be aware that payment of any tax due should also be made by this […]
The vehicle benefit charges for 2023-24 have been announced. Where employees are provided with fuel for their own private use by their employers, the car fuel benefit charge is also applicable. The fuel benefit charge is determined by reference to the CO2 rating of the car, applied to a fixed amount. The car fuel benefit […]
The Chancellor, Jeremy Hunt, recently hosted a meeting at 11 Downing Street to discuss what help may be available to support homeowners who encounter problems paying their mortgage. The meeting was attended by leaders of the UK’s major mortgage lenders, the Chair of the Financial Conduct Authority (FCA), and Martin Lewis of Money Saving Expert. […]
Time is running out to claim the super-deduction offering 130% first-year tax relief. The deduction is available to companies until March 2023. The super-deduction was designed to help incorporated businesses finance expansion after the coronavirus pandemic and to help drive growth. The super-deduction tax break was introduced on 1 April 2021 and allows businesses to […]
Be prepared to pay more on your late payments after the Bank of England increased the base rate to 3.5 per cent from 3 per cent. The ninth increase of 2022 was deemed necessary to help bring inflation down. The decision has a knock-on effect on HMRC interest rates that are linked to the Bank […]
Looking forward to that well-earned Christmas break? As you tick off the jobs ahead of the big day, don’t forget to think about your Self Assessment while you’re busy ordering the turkey and putting up the tree. If you complete your tax return ahead of the 25th, you’ll be able to enjoy Christmas knowing that’s […]