HMRC has started to recover overpayments of Self-employment Income Support Scheme (SEISS) grants. From April, HMRC is writing to taxpayers whose entitlement to the fourth or the fifth SEISS grant has reduced by more than £100 to ask them to repay amounts that were overpaid. Entitlement to the fourth and fifth SEISS grants can be Read more about HMRC starts chasing up SEISS overpayments[…]
Think of buying an electric car through privately or through your Limited Company? In summary, there’s no one size fits all answer and you need to consider the following when working out the bets option: the price of the car its CO2 emissions (if any) the year it was registered, the amount of business mileage, Read more about Buying an electric car[…]
The Chancellor made his annual Spring Statement speech today, the key measures the Chancellor announced where: Increase in the National Insurance Primary Threshold for Class 1 NICs and the Lower Profits Limit for Class 4 NICs from 6 July 2022, aligning it with the equivalent income tax personal allowance which is set at £12,570 per Read more about Spring statement summary[…]
HM Revenue and Customs (HMRC) has issued a warning to Self Assessment customers to be on their guard following the Self Assessment deadline after more than 570,000 scams were reported to HMRC in the last year. At this time of year, Self Assessment customers are at increased risk of falling victim to scams, even if Read more about Scammers targeting Self Assessment customers, HMRC warns[…]
Following on from the government announced on 7 September 2021 the new 1.25% Health and Social Care Levy to fund investment in the NHS, health and social care, will come into effect from 6 April 2022. The Levy is effectively introduced from April 2022 when the rate of National Insurance contributions for working age employees, Read more about Health and Social Care ― National Insurance Contribution increase[…]
The Chancellor announced yesterday that a support package of grants will be available for businesses who have been most impacted by the Omicron variant. Businesses in the hospitality and leisure sectors in England will be eligible for one-off grants of up to £6000 per premises, plus more than £100 million discretionary funding will be made Read more about Government’s financial support for businesses[…]
As the Self Assessment filing deadline of 31 January 2022 gets closer HM Revenue and Customs (HMRC) prepares to issue emails and SMS to Self Assessment customers, reminding them to be on their guard after nearly 800,000 tax-related scams were reported in the last year. Fraudsters use Self Assessment to try and steal money or Read more about HMRC warns customers about Self Assessment tricksters[…]
Around 24,000 HM Revenue and Customs (HMRC) customers with a Post Office card account have just three weeks left to update the department with new payment details before the 30 November deadline, or risk having payments paused. From 1 December 2021, HMRC will stop making Tax Credits, Child Benefit and Guardian’s Allowance payments to Post Read more about Do you have a Post Office card account and receive Tax Credits, Child Benefit and Guardian’s Allowance payments?[…]
Here are some of the key points from the budget of 27 October 2021: National Living Wages (NLW) and National Minimum wage (NMW) NMW & NLW will increase from April 2021 as follows: 25 years and over increase from £8.91 to £9.50 per hour, an increase of 6.6%. 21 to 24 years old increase from Read more about Main points from the budget (27 October 2021)[…]