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 […]
A clampdown on fraudsters and benefits cheats has saved more than £400m of taxpayers’ cash. New figures published by the Cabinet Office have revealed that cutting-edge data matching software has been used to weed out the cheaters. The National Fraud Initiative enables organisations to use data and match records so they can pick up where […]
Money-saving expert Martin Lewis has advised those struggling with mortgage payments to speak to their lenders as they announced plans to support customers during the cost-of-living crisis. Rising costs and interest rates across the economy are a major cause of concern for consumers in many areas, and the Government understands that mortgage borrowers may be […]
The Government has launched a campaign to raise awareness of cut-price social tariffs for broadband and mobile users after figures revealed less than a third of eligible customers had taken advantage. The UK’s biggest broadband and mobile operators made commitments in the summer to support customers struggling with the cost of living, introducing tariffs starting […]