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Autumn Finance Bill published

The government published the Autumn Finance Bill 2022 on 22 November 2022. The Bill is officially known as Finance Bill ...
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Self-assessment payments on account

Self-assessment taxpayers are usually required to pay their income tax liabilities in three instalments each year. The first two payments ...
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Who is a Scottish taxpayer?

The Scottish rate of income (SRIT) is payable on the non-savings and non-dividend income of those defined as Scottish taxpayers ...
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Filing abridged company accounts

Companies that are dormant or qualify as a small company or ‘micro-entity’ can choose to send a simpler set of ...
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Low-cost broadband and phone tariffs

The Department for Digital, Culture, Media & Sport (DCMS) has published a new press release to confirm that they have ...
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Use HMRC’s tax app to save time

A free HMRC tax app is available and offers some useful functionality. In fact, in the 12 months up to ...
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Reminder of working from home allowances

Employees who work from home may be able to claim tax relief for bills they pay that are related to ...
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MTD for ITSA

The introduction of Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) is set to commence from April 2024. This ...
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CGT – share exchange

One of the more ‘niche’ measures introduced as part of the Autumn Statement measures related to Capital Gains Tax: Share ...
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Corporation Tax increases from April 2023

The Corporation Tax main rate will increase to 25% from 1 April 2023 for companies with profits over £250,000. A ...
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Personal tax allowances frozen to April 2028

Chancellor Jeremy Hunt announced as part of the Autumn Statement measures that the Income Tax thresholds will be maintained at ...
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CGT tax-free allowance reducing

In the Autumn Statement, the Chancellor announced that the annual exempt amount applicable to Capital Gains Tax (CGT) is to ...
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Fiscal drag

You may have encountered this phrase, fiscal drag, in recent weeks, particularly if following the Autumn Statement announcements last week ...
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Tax Diary December 2022/January 2023

1 December 2022 - Due date for Corporation Tax payable for the year ended 28 February 2022. 19 December 2022 ...
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Autumn Statement Summary

The new Chancellor of the Exchequer, Jeremy Hunt, has delivered his Autumn Statement to the House of Commons against a ...
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Gifts paid out of disposable income

It is possible for wealthier taxpayers to make tax exempt gifts and payments that are funded as normal expenditure out ...
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Private pension contributions tax relief

Under current rules, you can claim tax relief for your private pension contributions within certain limitations. The current annual allowance ...
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VAT – partly exempt businesses

A business that incurs expenditure on taxable and exempt business activities is partially exempt for VAT purposes. This means that ...
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Declare COVID support payments received

HMRC is reminding Self-Assessment taxpayers that they must declare COVID-19 grant and support payments in their tax return for the ...
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More on HMRC payment plans

Businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their ...
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Basis of assessment changing

Forthcoming 'basis of assessment' reforms will change the way trading income is allocated to tax years for the self-employed. The ...
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HMRC interest rate changes

Following the recent increase in the Bank of England base rate from 2.25% to 3% HMRC has confirmed there will ...
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Claiming Corporation Tax losses

Corporation Tax relief may be available where a company or organisation makes a trading loss. The loss may be used ...
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HMRC launch offshore property owners campaign

It has been reported by the Chartered Institute of Taxation (CIOT) that HMRC is to launch a new campaign to ...
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