MTD for Income Tax pilot now live
Posted on Friday, May 3rd, 2024
HMRC’s pilot scheme for Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is now live. Accountants, agents and individuals are able to sign up to the pilot and test the programme out. The pilot... Read Full Article...
IR35 reforms taking their toll on skilled contractors
Posted on Friday, May 3rd, 2024
One in ten highly skilled freelancers are currently out of work due to the impact of reforms to IR35 tax legislation, according to research published by the Association of Independent Professionals and the Self-Employed (IPSE). IPSE’s survey... Read Full Article...
No Comments on IR35 reforms taking their toll on skilled contractors
Government urged to implement reforms to R&D tax system
Posted on Friday, May 3rd, 2024
The government is being urged to implement reforms to the Research and Development (R&D) tax relief system in order to avoid hurting small companies by the Suffolk Chamber of Commerce. A report released by the Chamber found... Read Full Article...
No Comments on Government urged to implement reforms to R&D tax system
HMRC clarifies tax rules for WFH commuting
Posted on Friday, May 3rd, 2024
HMRC has updated guidance on when tax relief is available on travel expenses for staff who work from home. The tax authority is responding to the growth of flexible or hybrid basis working contracts, particularly since the... Read Full Article...
HMRC launches online voluntary NICs payment service
Posted on Friday, May 3rd, 2024
HMRC has launched a new online voluntary NICs payment service. The government says the new service will make it easier for customers to check for and fill any gaps in their National Insurance record to help increase... Read Full Article...
No Comments on HMRC launches online voluntary NICs payment service
UK borrowing reduces Chancellor’s wiggle room
Posted on Friday, May 3rd, 2024
Higher than expected government borrowing has reduced the Chancellor’s ‘wiggle room’ at a pre-election Budget. Government borrowing – the difference between spending and tax income – was £120.7 billion in the year to March, according to the latest... Read Full Article...
No Comments on UK borrowing reduces Chancellor’s wiggle room
More than seven million adults still struggling to pay bills, finds FCA
Posted on Friday, May 3rd, 2024
Around 7.4 million people in the UK struggled to pay a bill or a credit repayment in January, according to the Financial Conduct Authority (FCA). The figure is lower than last year but is still significantly higher... Read Full Article...
No Comments on More than seven million adults still struggling to pay bills, finds FCA
Latest guidance for employers
Posted on Friday, May 3rd, 2024
HMRC has published the latest issue of the Employer Bulletin. The March issue has information on various topics, including: PAYE Settlement Agreement payment reporting expenses and benefits for the tax year ending 5 April 2024 mandating the... Read Full Article...