May 26, 2023 | Government AnnouncementsPersonal Tax
HMRC has revealed that the self-assessment threshold for PAYE taxpayers will increase from £100,000 to £150,000 for the 2023/24 tax year. Currently, individuals taxed through PAYE only are legally required to file a self-assessment tax return if they make more than...
May 2, 2023 | Business RegulationBusiness TaxPersonal Tax
HMRC has launched a consultation that will run until June, focusing on the risks of double taxation in the IR35 system. Current legislation could change to offset tax payments by contractors who are accidentally charged as if they were sole traders. At the moment,...
Mar 29, 2023 | Government AnnouncementsPersonal Tax
HMRC is notifying self-assessment taxpayers that they will no longer receive paper returns automatically. Almost 97% of self-assessment customers filed their returns online for the 2023/24 tax year, with just 135,000 people choosing to submit paper returns. In a...
Mar 23, 2023 | Current AffairsPersonal Tax
Inheritance tax receipts totalled £531 million in February, resulting in a record £6.4 billion for the 2022/23 tax year so far. With a month still to go until the end of the tax year, this figure has already surpassed the £6.1bn received for 2021/22. The Office for...
Mar 20, 2023 | Government AnnouncementsPersonal Tax
The Making Tax Digital for income tax self-assessment (MTD for ITSA) delay will cost the Treasury £1.75 billion, according to figures from the Spring Budget. The estimates are based on HMRC's calculations of how digital reporting can minimise human error and increase...
