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MTD ready?

MTD are you ready?

Less than one week to go before MTD (Making Tax Digital) for VAT is mandatory. As of 1st April 2022 VAT registered businesses will need to submit VAT returns via MTD software. It is said that this will reduce common mistakes and save time for taxpayers whilst being a key part of the digitalisation of … Read more

Spring Statement 2022

Spring Budget 2022

The Chancellor of the Exchequer has announced the Spring Statement, in this he said the Government had already taken significant steps to help with the cost of living. Including a cut to the Universal Credit taper rate and increase to work allowances and the £9 billion package to help households with rising energy bills. The … Read more

HMRC warns against sharing

HMRC warns against sharing

HMRC warns individuals against sharing their personal information online. Criminals are attempting to obtain sensitive information including Government Gateway logins and personal information to register for self assessment. Once registered bogus tax returns will be submitted and refunds pocketed. Fraudsters are targeting teenagers to pensioners across social media platforms with a view to ‘borrowing’ their … Read more

High Income Child Benefit Tax Charge

tax charge

You may have to pay a tax charge, known as the ‘High Income Child Benefit Charge’, if you have an individual income over £50,000 and either: you or your partner get Child Benefit someone else gets Child Benefit for a child living with you and they contribute at least an equal amount towards the child’s … Read more

Minimum Wage Increase April 2022

Minimum wage 2022

The National Minimum Wage is due to increase as of the 1st April 2022. This increases each year but how much you’re entitled to depends on your age and if you are an apprentice. To qualify for the National Minimum Wage you must be of school leaving age. To qualify for the National Living Wage … Read more

One month to switch

One month to switch

HMRC customers have one month to switch their Post Office card account. 7,500 tax credits, Child benefit and Guardian Allowance receivers have just one month left to switch from their Post Office card accounts. HMRC will stop making payments into these accounts after April 5th 2022. Those currently receiving these benefits will need to notify … Read more