Monthly Archives: December 2023

Call queues are becoming a unwelcome feature of communicating with HMRC. In a recent post on the GOV.UK newsfeed a new strategy is emerging. As you would expect, it steers taxpayers towards their online accounts or other information posted online by HMRC. We may be heading for a completely impersonal approach to handle communications between […]

The Economic Crime and Corporate Transparency Bill (ECCT) achieved royal assent recently, and as we have reported previously, this will have an impact on the data that is held and required on the Companies House register. Many of the changes – including the requirement to file profit and loss details – will require secondary legislation […]

The Chancellor of the Exchequer, Jeremy Hunt, has delivered his Autumn Statement to the House of Commons. The government continues to be faced with challenging economic conditions as the cost of living crisis continues to affect many families across the UK. The Chancellor, however, had some good news with inflation falling to 4.6% in October, […]

You can check your National Insurance record online at GOV.UK to see: what you have paid, up to the start of the current tax year (6 April 2023); any National Insurance credits you have received; if gaps in contributions or credits mean some years do not count towards your State Pension (they are not ‘qualifying […]

Unsurprisingly, there were no changes to the rates and allowances for Income Tax purposes, VAT, Corporation Tax, Inheritance Tax and Capital Gains Tax. NIC charges for employees and the self-employed were eased and the Chancellor has bowed to lobbying by UK companies and has made the “full expensing” of main rate capital expenditure a permanent […]

1 December 2023 – Due date for Corporation Tax payable for the year ended 28 February 2023. 19 December 2023 – PAYE and NIC deductions due for month ended 5 December 2023. (If you pay your tax electronically the due date is 22 December 2023). 19 December 2023 – Filing deadline for the CIS300 monthly […]

The second review of the State Pension age has been published by the Department for Work and Pensions. The State Pension age is currently 66. The review has stated that a further increase in the State Pension age to 67 for those born on or after April 1960 will take place as planned between 2026 […]

Student Loans are part of the government’s financial support package for students in higher education in the UK. They are available to help students meet their expenses while they are studying, and it is HMRC’s responsibility to collect repayments where the borrower is working in the UK. The Student Loans Company (SLC) is directly responsible […]

The marriage allowance applies to married couples and those in a civil partnership where a spouse or civil partner does not pay tax or pay tax above the basic rate threshold for Income Tax (i.e., one of the couples must currently earn less than the £12,570 personal allowance for 2023-24). The allowance works by permitting […]

If you have taxable income of less than £17,570 in 2023-24 tax year you will have no tax to pay on interest received. This figure is calculated by adding the £5,000 starting rate limit for savings (where 0% of the interest is taxable) to the current £12,570 personal allowance. However, it is important to note […]