Making Tax Digital for Income Tax has been talked about for years, with delays and uncertainty along the way. From April 2026, it is finally happening and it will affect many sole traders and landlords across the UK. In our latest podcast, Francesca (Head of Payroll) sits down with Graeme (Director and Client Manager) and …
Preparing for an audit is rarely anyone’s favourite job, but it is part of running a resilient, well-managed business. HMRC is under continued pressure to close the tax gap. In 2024/25 alone, it completed around 316,000 compliance checks and has continued to invest heavily in new staff, data tools and digital systems. Against that backdrop, …
As the dark nights draw in, plenty of businesses are planning Christmas parties or staff celebrations. These are a great way to thank your team for their hard work and end the year on a high. Some of these events can be tax free if they meet HMRC’s criteria, while others may trigger a taxable …
Facing a personal tax compliance check from HM Revenue & Customs can be daunting, but it doesn’t have to be. Our latest newsletter is here to guide you through the process, ensuring you stay prepared, informed, and ready to handle any enquiries from HMRC with ease. From understanding what triggers a compliance check to knowing …
HMRC make U-Turn on proposed helpline cuts less than 24 hours after announcement made. Tuesday 19 March HMRC announced decision to make changes to the Self-Assessment, VAT and PAYE Helplines. This included a 6-month Self-Assessment helpline closure from April 2024 to September 2024. Wednesday 20 March this announcement was reversed with any guidance published by …
The Chancellor Jeremy Hunt delivered the Autumn Statement 2023 at 12.30pm today. In his statement, the Chancellor stated that following a global crisis he has made difficult decisions to get the UK economy back on track. He advised that this was an Autumn Statement for growth and to reward hard work. A total of 110 …
Jeremy Hunt delivered his first Spring Budget 2023 as Chancellor at 12.30pm today. In his statement, the Chancellor stated that the Office for Budget Responsibility have declared that the UK will not now enter ‘technical recession’ this year as was forecasted and his speech was centered around his so called ‘four pillars of strategy’ to …
HMRC have extended the deadline for making voluntary National Insurance contributions (which can date back to 6 April 2006), to 31 July 2023. What is National Insurance? National Insurance is a tax paid by individuals who are employed or self-employed, based on how much they earn then determines how much National Insurance is contributed from …
HMRC announced changes to VAT penalty and interest charges for VAT periods starting on or after 1 January 2023. The changes to penalties and interest for late VAT Return submissions and payments, also apply to businesses that submit nil returns and repayment VAT Returns. Late VAT Return submission Penalties for late VAT Return submissions will …
The National Minimum Wage is increasing from 1 April 2023. With the Cost of Living crisis fully apparent, the increase will be welcomed by many. Below we detail the increases and what they mean for you, your employees and your business. National Minimum Wage Rate Increase from 1 April 2023 Category of Worker Hourly Rate …
The Chartered Institute of Taxation
The Association of Taxation Technicians
