Tax Tips and News
Spotlight falls on potential tax changes as General Election called
Newsletter issue – June 2024 After much speculation about when The Prime Minister would call a General Election, Rishi Sunak surprised many with his announcement in recent days that it would take place on 4 July. We had expected an Autumn Election, but we’ve ended up with a Summer vote instead. Of course, as…Read More
July tax credits deadline prompts payment warning
Newsletter issue – June 2024 Nearly one million people need to be aware of a looming tax deadline, coming on 31 July. It’s that time when tax credit renewal notices are sent out. There are about 730,000 tax credits customers who should get their letter by 19 June, if they haven’t already. Most claims…Read More
New Scottish tax sparks petition to recall powers
Newsletter issue – June 2024 If you’re a Scottish resident, you’re no doubt aware that from April a whole new band of tax has taken effect. The new Advanced Income Tax band , coming in at a 45% rate , applies on annual income between £75,000 and £125,140. An additional 1p has also been added…Read More
HMRC issues ‘tax refund companies’ alert
Newsletter issue – June 2024 HMRC is warning against being hooked by self-professed ‘tax refund companies’ claiming they can help you reduce your tax bill. The organisation is running a campaign to highlight that some of these ‘tax experts’ will offer to make expense claims "on your behalf, just so they can claim a…Read More
June Questions and Answers
Newsletter issue – June 2024 Q: As part of my professional role, I belong to a professional body, for which I pay membership fees each year. It’s becoming somewhat expensive to keep it going but it is nonetheless an important part of my job. Somebody mentioned they had claimed tax relief for the membership fees.…Read More
June Key Dates
Newsletter issue – June 2024 1st Multiple Dwellings Relief is to be abolished. 19th For employers operating PAYE, this is the deadline to send an Employer Payment Summary (EPS) to claim any reduction on what you’ll owe HMRC. 22nd Deadline for employers operating PAYE to pay HMRC. This is also the quarterly deadline for businesses…Read More
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