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HMRC Compensation Childcare

HMRC to offer compensation to those affected by childcare site issues HM Revenue and Customs (HMRC) have started a compensation scheme for parents that were unable to apply for government-funded childcare schemes due to IT issues. Since The Childcare Service, which launched in April, many parents have faced issues when trying to complete online applications.…

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HMRC To Stop Providing SA302s

HMRC to stop providing SA302s for mortgage applications HMRC have decided to stop issuing paper copies of clients’ tax calculation overviews for mortgage applications for those who are self employed and have a tax agent. This follows an agreement they have reached with the Council of Mortgage Lenders.   HMRC has been in discussions to…

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Changes to Making Tax Digital

Changes to Making Tax Digital? On 13 July 2017, HMRC announced that the government has listened to concerns from various bodies and respondents of their consultations and as a result of these consultations they have now agreed to slow down the pace at which businesses are moved to the new Making Tax Digital regime.  …

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Have You Paid Your Tax

      Reminder – HMRC tax payments due today Nearly five million self-employed people, company directors and those with more than one source of income may have to pay tax by 31 July. The major filing deadline for those in the self-assessment system is 31 January; however, those who are liable to make payments…

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Making Tax Digital

Are you ready for Making Tax Digital? What is Making Tax Digital? Making Tax Digital is the one of the biggest changes for small businesses in recent years and will completely modify the way you are required to submit your records to HMRC. Making Tax Digital will affect the majority of businesses including sole traders.…

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Taxation of Dividends after 5 April 2016

The UK Government have announced changes to the way dividends are taxed for UK individual taxpayers. The main changes are: The 10% dividend tax credit is abolished for dividends received on or after 6th April 2016 and is replaced by a new tax-free Dividend Allowance The Dividend Allowance means that the first £5,000 of dividend…

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Summer Budget 2015

1. Personal Allowance increase The government will increase the income tax personal allowance from £10,600 in 2015-16 to £11,000 in 2016-17. It will increase to £11,200 from 2017-18. The government will legislate to ensure that once the personal allowance reaches £12,500 it will be uprated in line with the National Minimum Wage (NMW), ensuring that…

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