by admin | Apr 10, 2019 | Income Tax |
In an agent update published earlier this year HMRC wrote that as part of EU Exit contingency planning, a change would be made to the timings for sending notification of Self Assessment penalties. The £100 penalty notices are normally issued in February but HMRC...
by admin | Apr 10, 2019 | Income Tax |
The High Income Child Benefit charge applies to taxpayers whose income exceeds £50,000 in a tax year and who are in receipt of child benefit. The charge claws back the financial benefit of receiving child benefit either by reducing or removing the benefit...
by admin | Apr 3, 2019 | Income Tax |
If you are a higher rate or additional rate taxpayer, you are eligible to claim relief on the difference between the basic rate and your highest rate of tax. The charity you donate to can reclaim the basic rate of tax from donations made by taxpayers. For example: If...
by admin | Apr 3, 2019 | Income Tax |
The 2018-19 tax year ended on 5 April 2019 and the new 2019-20 tax year started on 6 April 2019. Many taxpayers will be tempted to delay dealing with their 2018-19 tax returns until late this year or January 2020. The 31 January 2020 is not just the final date...
by admin | Apr 3, 2019 | Income Tax |
There are a number of reasons why you may need to register with HMRC to submit a tax return. This includes if you: are self-employed and earning more than £1,000, are a company director, have an annual income over £100,000 and / or if you have certain income...
by admin | Mar 6, 2019 | Income Tax |
HMRC has published a press release to remind qualifying couples to claim the Marriage Allowance. The Marriage Allowance allows lower earning couples to share part of their personal tax-free allowance. The Marriage Allowance is available to married couples and those in...
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