Previously, most people taxed through PAYE do not need to complete a self-assessment tax return unless they have earned more than £100,000. However, the self-assessment threshold has now changed. If you earn more than £150,000 taxed through PAYE, you must submit a self-assessment tax return.
Today (6 March 2024), The Chancellor of the Exchequer, Jeremy Hunt, delivered his Spring Budget 2024 to the House of Commons. Our latest article highlights the key announcements made in the Spring Budget 2024.
Companies House has announced that it will increase fees from the 1st of May 2024. The new costs affect incorporation, a change of name, re-registration of a company, confirmation statements, and other services. Our latest article outlines the changes to Companies House fees you should know.
As you get back into the swing of things in the new year, you may wonder what key tax dates and deadlines you must be aware of in 2024. We’ve compiled a helpful timeline of the most important accounting dates to help you stay on top of your tax obligations in 2024.
In the 2023/24 tax year, February has an extra day due to 2024 being a leap year. This additional day means there are two days in week 53 this year. Our latest article explains a week 53 payment and how it affects umbrella employees.
If you are required to submit a self-assessment tax return for the 2021/22 tax year, the 31st of January 2023 deadline is approaching quickly. Failure to submit your tax return by the deadline will automatically result in a £100 penalty. Keep reading to learn more about self-assessment tax returns and advice to help you meet the deadline and avoid a fine from HMRC.
A new corporate report released by HMRC in 2022 features a frequently updated list of named tax avoidance schemes and how they have been helping temporary workers avoid paying their fair share of income tax and National Insurance Contributions. In this article, we’ve summarised the creative ways unethical tax avoidance schemes operate to help you understand the warning signs of a payroll provider that could land you in serious trouble with HMRC. We have also explained how compliant umbrella companies will operate (PAYE) – to help you pick a provider you can trust.
Chancellor Rishi Sunak delivered his Spring Statement to the House of Commons on the 23rd March 2022. The Chancellor announced a series of measures to support businesses, building on measures announced at the Autumn Budget and Spending Review 2021. Continue reading as we outline the key announcements in the Spring Statement 2022.
As another tax year draws to a close, it’s helpful to consider the upcoming changes the new tax year will bring and how it could affect the amount of tax you pay. Continue reading as we discuss the changes you should be aware of for the 2022/23 tax year.
Failing to meet the self-assessment filing deadline almost certainly results in a £100 penalty from the government. However, HMRC will not enforce penalties for anyone who submits their 2020/21 tax return up to a month after the regular deadline for the second year in a row. Keep reading, and we’ll explain more about this unexpected announcement.
