HMRC has published the latest issue of the Employer Bulletin. The February issue has information on various topics, including: 2024 National Insurance contributions rate changes end of year reporting basis period reform simplifying the reporting of income tax and National Insurance contributions on benefits in kind Help for Households upcoming... read more →
Mar
01
The amount needed for a single person to have a moderate retirement has risen to £31,300, according to the Pensions and Lifetime Savings Association (PLSA). The rising cost of living and an increased importance on socialising following the pandemic had pushed up the income required by £8,000, the PLSA said.... read more →
Mar
01
Just a week after HMRC released new guidance that classed double-cab pickups as cars rather than vans, the government reversed the decision. On 19 February, HMRC confirmed that it’s reversing the updated guidance announced on 12 February, meaning that double-cab pickups will continue to be treated as goods vehicles rather... read more →
Mar
01
HMRC is warning people to be wary of bogus tax refund offers following the self assessment deadline on 31 January. The tax authority says that fraudsters could set their sights on self assessment taxpayers, with more than 11.5 million submitting a tax return by last month's deadline. HMRC warns that... read more →
Mar
01
Over one million self assessment taxpayers missed the filing deadline at midnight on 31 January, according to data published by HMRC. A record 11.5 million taxpayers did file their 2022/23 self assessment tax returns by the deadline. HMRC’s figures also showed that 1.1 million missed the deadline. The final day... read more →
Mar
01
HMRC has published guidance on the Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) requirements for sole traders and landlords. MTD for ITSA will require businesses and landlords with qualifying income to maintain digital records and update HMRC each quarter via compatible software. In the guidance, HMRC... read more →