HMRC has issued a new press release reminding readers of a limited-time opportunity to enhance their State Pension. Currently, there is an opportunity for affected individuals to
Self-assessment taxpayers typically need to pay their Income Tax liabilities in three instalments each year. The first two payments on account are due by 31 January during the tax
Self-employed individuals are usually required to pay Class 4 National Insurance contributions (NICs) if their annual profits exceed £12,570. For the 2024-25 tax year, Class 4 NIC
The Tax-Free Childcare (TFC) scheme helps working families manage childcare costs by providing support through a wide network of registered providers, including childminders,
Most personal pensions set a minimum age at which you can start withdrawing money, typically not before age 55. Some pension benefits can be taken tax-free. Generally, you can
Employees with more than one job may be eligible to defer or delay paying Class 1 National Insurance in certain situations. This deferment can be considered if any of the following
The Department for Work and Pensions has published an outline of the new Pensions Scheme Bill. There are three main objectives that the government want to achieve, and they are set
Legislation has been introduced in Parliament to upgrade UK workers’ rights.
The legislation is wide ranging with the intention of tackling poor working conditions and benefitting
Banks will be granted new powers to delay and investigate payments suspected of fraud, enhancing consumer protection against scammers.
Under new laws being proposed by the
New regulations that prohibit employers from withholding tips for employees in the hospitality, leisure, and services sectors took effect on 1 October 2024. This change follows the
The GOV.UK ID Check app is used to allow applicants to verify their identify when they sign in to a government service with GOV.UK One Login. Once this had been completed
There are special VAT reverse charge rules in place for certain building contractors and sub-contractors. These regulations, which came into effect on 1 March 2021, make the supply
Chancellor Rachel Reeves has recently introduced a series of new measures aimed at advancing the priorities of the new government. The key announcements include:
New funding for
While there have been no specific announcements regarding changes to Business Asset Disposal Relief (BADR), the Chancellor may consider modifying this relief in the upcoming
The government has unveiled new measures to support small businesses and the self-employed by tackling the scourge of late payments, which according to the Smart Data Foundry is
A reminder that the government has stated that it will remove preferential tax treatment based on domicile status for all new foreign income and gains (FIG) that arise from 6 April
1 November 2024 – Due date for Corporation Tax due for the year ended 31 January 2024.
19 November 2024 – PAYE and NIC deductions due for month ended 5 November 2024. (If you pay
HMRC has issued a press release urging 18-22 year olds who have yet to claim their Child Trust Fund (CTF) cash to do so as soon as possible. According to HMRC, over 670,000 young