Category: Personal tax

  • Tax changes following the autumn statement 2022

    Tax changes following the autumn statement 2022

    On the 17th of November there were several changes announced that will affect tax for future years. Personal Tax & National Insurance bands Dividend tax Capital Gains Tax State pension increase

  • The Growth Plan September 2022

    The Growth Plan September 2022

    ** Many changes announced in the Growth Plan have now been abandoned as below ** On Friday 23rd September, the previous Chancellor announced several plans that will affect individuals and the self-employed: 1% Reduction in income tax From April 2023, it is planned to reduce the basic rate of income tax from the current 20% […]

  • The 2022 Paper Tax Return

    The 2022 Paper Tax Return

    The 2021/22 tax year ended on 5th April 2022, tax returns for that year can now be submitted. It is highly recommended that returns are completed as early as possible in the year, that way nasty surprises are avoided. By leaving things later in the year, there is less time before the tax due for […]

  • National Insurance changes from July 2022

    National Insurance changes from July 2022

    In the recent Spring Statement, several changes to National Insurance were announced. These are not straightforward, and this is further compounded by only applying part way through the new tax year – from 6th July 2022 onwards. The reason why the changes are not introduced from 6th April 2022 is that with short notice, payroll […]

  • Making Tax Digital postponed until 2024

    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 […]