Jan 26, 2023 | Government AnnouncementsPersonal Tax
HMRC has revealed that the average wait time for its self-assessment helpline is 27 minutes - more than double the same time last year. In response to a letter from the Treasury earlier this month, HMRC denied that call centre staff working from home caused a decrease...
Jan 25, 2023 | Business TaxPersonal Tax
HMRC data shows that tax receipts totalled £553 billion in the period from April to December 2022, reflecting across-the-board tax rises. This is a 9.5% increase on the same period a year before when tax receipts stood at £505bn. The main contributors to the increase...
Jan 24, 2023 | Current AffairsPersonal Tax
According to a new analysis from think tank Civitas, the top 20% of earners pay two-thirds (66%) of all income tax. In the tax year 2020/21, 83% of income tax came from the top 40% of earners, while the top 10% contributed over half the total - three times as much as...
Jan 23, 2023 | Personal Tax
More than half of sole traders (52%) are still yet to submit their self-assessment tax returns before the deadline, research from Quickbooks reveals. Sole traders only have a handful of days to submit their tax return before 31 January, and avoid a HMRC penalty. The...
Jan 18, 2023 | Government AnnouncementsPersonal Tax
Despite Making Tax Digital for income tax self-assessment (MTD for ITSA) being delayed until at least 2024, the switch to tax year basis will still go ahead from 2024/25 onwards. This means self-assessment customers will be subject to income tax on their profits in...
