Welcome to our blog page, keeping you up to date with current topics….
Self assessment deadline approaching
Self assessment deadline approaching The deadline for submitting your 2018/19 self assessment return is 31 January 2020. The deadline applies to taxpayers who need to complete a tax return and make direct payments to HMRC in respect of their income tax, Classes 2 and 4 National Insurance Contributions (NIC), capital gains tax and High Income [...]
Read MoreCall for review of High Income Child Benefit Charge
Call for review of High Income Child Benefit Charge The Low Incomes Tax Reform Group (LITRG) is calling on the government to address issues with the High Income Child Benefit Charge (HICBC). The HICBC is designed to claw back child benefit where the claimant or their partner earns in excess of £50,000. According to LITRG [...]
Read MoreGuidance on Structures and Buildings Allowance
Guidance on Structures and Buildings Allowance The latest HMRC Agent Update includes guidance on the Structures and Buildings Allowance (SBA). This capital allowance is designed to provide tax relief for businesses and to support investment in constructing new structures and buildings and improving existing ones. The SBA relieves the construction costs for new structures and [...]
Read MoreRetiring clinicians payments
Retiring clinicians payments The Secretary of State has confirmed that the commitments being entered into, to make payments to clinicians affected by annual allowance pension tax, will be honoured when clinicians retire. In a written statement Matt Hancock, Secretary of State for Health and Social Care stated: ‘I have agreed to support this proposal from NHS [...]
Read MoreChancellor commits to review of IR35
Review of the Disguised Remuneration Loan Charge The government has announced it will make a number of changes to the loan charge rules, in response to Sir Amyas Morse’s independent review of the loan charge policy and its implementation. The government has announced the following key changes to the loan charge: the loan charge will [...]
Read MoreReview of the Disguised Remuneration Loan Charge
Review of the Disguised Remuneration Loan Charge The government has announced it will make a number of changes to the loan charge rules, in response to Sir Amyas Morse’s independent review of the loan charge policy and its implementation. The government has announced the following key changes to the loan charge: the loan charge will [...]
Read MoreMinimum wage rates announced
Minimum wage rates announced The government has announced a 6.2% increase in the National Living Wage (NLW), which applies to workers aged 25 and over. From 1 April 2020 the NLW will rise from the current rate of £8.21 to £8.72 an hour, in the largest raise since it was introduced two decades ago. The [...]
Read MoreGenuine HMRC contact and recognising phishing emails and texts
Genuine HMRC contact and recognising phishing emails and texts: HMRC has updated their guidance on how to recognise when contact from HMRC is genuine and how to recognise phishing or bogus emails and text messages. The rule is, if you are not sure, do not disclose any information. Hang up, do not respond to the [...]
Read More