Articles13 Sep 2023
Finalising returns figures and filing early
HMRC is chasing taxpayers who have submitted tax returns for 2021/22 containing unresolved provisional figures, while also extolling the benefits of filing early for 2022/23.
I want to filter the results again
Articles12 Aug 2023
Abolishing the pensions lifetime allowance
Although the lifetime allowance was effectively abolished from April 2023 as the lifetime allowance charge was removed, it has been retained on statute for a year to allow time for the intricacies to be ironed out. Draft legislation, to take effect from 6 April 2024, has now been published.
Articles14 Jun 2023
What you need to know after you’ve set up a Trust
Now that the Trust setup has been successfully completed and the Trust has been registered with HMRC, you now need to address the important accompanying accounting and tax compliance obligations
Articles23 May 2023
2023/24 – the 23-month tax year?
If you are self-employed, the new tax year may be longer than you think. If you are self-employed, until 2023/24, you have normally been taxed on the profits made in the accounting year that ends in the tax year. For... Read more
Articles14 Apr 2023
Cash basis reform: potential turnover threshold changes
With basis period reform now underway, HMRC is looking at further tax simplification for sole traders and partnerships by increasing the cash basis turnover threshold. The cash basis scheme removes complexities such as accruals and most capital allowances. The cash... Read more
Articles10 Feb 2023
21st century Revenue – HMRC’s app and new texting service
HMRC’s app was launched a year ago
Articles10 Jan 2023
Tips when filing your self assessment tax return
Were you one of the 25,000 eager taxpayers who filed their 2021/22 tax return on New Years Eve? Or are you one of the estimated five million who still have to file their tax return? Putting off this task until... Read more
Articles12 Dec 2022
The effects of fiscal drag on your tax position
A stealthy way governments pull taxpayers into higher tax brackets