by MAS | Oct 1, 2023 | Business advice, Financial news, HMRC
HMRC has urged almost 430,000 young people with an unclaimed CTF to claim their cash. CTFs are tax-free savings accounts that were created for every child born between 1 September 2002 and 2 January 2011. The government contributed an initial deposit of at least £250....
by MAS | Aug 2, 2023 | Business advice, Financial news, HMRC, MAS Blog, PAYE
HMRC has launched a new online tool to help you understand your PAYE code. What is it and how can you use it? Your tax code is what your employer or pension provider uses to deduct tax from your payments. When changes are required, you are sent a P2 coding notice...
by MAS | Jun 29, 2023 | Business advice, Financial news, HMRC, Tax
Following the 13th consecutive increase in the Bank of England base rate, HMRC’s interest rates on overpaid or underpaid tax will also increase. What are they and when will they take effect? From 3 July 2023 the following rates will apply: Late corporation tax paid...
by MAS | Apr 6, 2023 | Business advice, Financial news, HMRC, Self Assessment, Self employed
The government’s Making Tax Digital rollout may have been pushed back, but HMRC is moving ahead with plans to make online filings all but compulsory. Secondary legislation has been passed this month that makes it mandatory for employers to file Forms P11D and P11D(b)...
by MAS | Mar 30, 2023 | Business advice, CIS, Financial news, HMRC, NIC
5 April Last day of 2022/23 tax year. Deadline for 2022/23 ISA investments and pension contributions. Last day to make disposals using the 2022/23 CGT exemption. 14 April Due date for income tax for the CT61 period to 31 March 2023. 19 April Automatic interest is...
by MAS | Mar 21, 2023 | Budget, Business advice, Financial news, HMRC
On 15 March 2023, Chancellor Jeremy Hunt presented his first Budget. Below we set out some of the main points. COST OF LIVING SUPPORT Energy Costs The Energy Price Guarantee (EPG) has been extended by 3 months to 30th June 2023, before increasing to £3,000 until the...
