As a fellow of my tax association, I was featured in the February 2021 issue of TAXAdviser magazine: The feature discusses my tax career and how the ATT qualification, ATT fellowship and volunteering for the association have all had a positive impact: You can download a copy of the February 2021 issue from: https://www.taxadvisermagazine.com/editions Please […]
Making Tax Digital postponed until 2024
HMRC had been planning to start digital tax from 6th April 2023, however that has now been postponed until 6th April 2024. There have also been some further details of digital tax record-keeping. You do not have to input your income and expenses straightaway if you do not wish to. There were worries that people […]
National Insurance increase from April 2022
From April 2022 the rate of National Insurance is to increase by 1.25%. This will apply to both employees(Class 1) and the self-employed(Class 4.) The increase won’t initially affect those above state pension age. However from April 2023 the increase is renamed as a separate 1.25% ‘Health and Social Care Levy’ and the original current […]
Dividend Tax Increase from April 2022
The rate of tax on dividend income is to increase from April 2022. At present, there is also a £2,000 annual tax-free allowance for dividend income. There have been no changes announced to this annual limit, however the rate of tax that is charged on dividends above the annual limit is to increase: Income Band […]
Taxhelp celebrates 15 years in business
I launched taxhelp.uk.com back in 2006, to specialise in helping the self-employed. It has now been 15 years since I started the business, and I am pleased to have been able to help hundreds of small business owners – taking away the worry and freeing up their time from trying to deal with their own […]
SEISS Grants and accounting dates
People are now starting to complete their 2021 tax returns, which cover the tax year 6th April 2020 to 5th April 2021. If your accounting year ends on 5th April 2021 then there are no issues – any SEISS grants that you have received in the tax year will align with your accounting year. However, […]
SA316 – HMRC Notice to File a 2021 Tax Return
HMRC has started issuing the 2021 notices to complete a tax return. These can either be received through your online personal tax account, as above, or through the post. The postal form is called a SA316 form. The notices relate to the 2020/21 tax return year, which covers the period 6th April 2020 to 5th […]
HMRC 2021 Paper Tax Return Form
The new paper tax return form has been released for 2020/21 by HMRC The 2021 tax year covers the period 6th April 2020 to 5th April 2021. If you are submitting a paper tax form, this has to be submitted to HMRC before 31st October 2021 in order to avoid an automatic £100 fine being […]
SEISS grants 4 and 5 announced
It was announced in the Budget that there would be two SEISS grants: Fourth Grant – covering three months at 80% of average trading profits. Paid out in a single instalment and capped at £7,500. You must be a self-employed individual or a member of a partnership. The 2019/20 tax return is referred to for […]