1 August 2022 – Due date for corporation tax due for the year ended 31 October 2021. 19 August 2022 – PAYE and NIC deductions due for month ended 5 August 2022. (If you pay your tax electronically the due date is 22 August 2022) 19 August 2022 – Filing deadline for the CIS300 monthly […]
There are certain circumstances when you will pay Capital Gains Tax when selling personal possessions. You may have to pay Capital Gains Tax if you make a profit (‘gain’) when you sell (or ‘dispose of’) a personal possession for £6,000 or more. For example, you may need to pay tax on sale of personally owned […]
Now our present Prime Minister has indicated his intention to resign it seems unlikely that a successor will be appointed before September. Which means Boris Johnson’s cabinet are caretakers for the interim period and it is doubtful that there will be any far-reaching changes to UK taxes. The new Prime Minister and his or her […]
Since 2017, there is no tax to pay on trading income or earnings from land and property as long as the income from each source does not exceed £1,000. Trading allowance The trading allowance is a tax exemption of up to £1,000 a year for individuals with trading income from: self-employment. casual services, for example, […]
If you are locked into an IVA and are concerned that recent increases in the cost of living are creating severe financial pressures, you can ask your IVA supervisor to review your income and expenses to see if you are eligible for a reduction in payments or a payment break. You will be required to […]
More than a million small businesses are now eligible for discounted software through a flagship government scheme after a change to the rules. The Help to Grow: Digital Scheme, which cuts the price of leading software to boost productivity and growth in the UK’s smaller firms, is now available to businesses with just one employee. […]
More than a million of the lowest-paid workers in the UK will receive a financial boost from 2025. New Government legislation just published confirms that around 1.2 million low earners who save for their pension through a Net Pay Arrangement (NPA) will get the same level of government top-up as those who use Relief at […]
Hospitality staff will be able to keep their well-deserved tips from grateful customers under new legislation that has been backed by Government. Although customers may leave cash to say thank you to their waiter staff, many employers still keep the money for themselves. For card payments, it is even harder to keep track of where […]
People who are worried about the impact of rising prices and its effect on household incomes are being urged to seek support. Speaking to a trained and experienced debt adviser about your situation could help you decide what to do before the situation gets out of control. Having early conversations is the best first step […]
Around 30 million people across the UK will be looking forward to seeing extra cash in their pocket after the biggest personal tax cut in a decade came into force. Some lucky workers will be saving £330 a year, with around 2.2 million no longer having to pay tax. The £6 billion tax cut will […]