Category: Income Tax

Marriage Allowance tax break

If you are entitled to the marriage allowance and have not yet applied, then you could receive a payment of up to £1,188 from HMRC. HMRC used the occasion of Valentine’s Day to remind couples to make

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Scottish Budget Statement 2021-22

Scotland’s Finance Secretary, Kate Forbes delivered her second Budget statement to the Scottish parliament on 28 January 2021. The date was selected to allow the Scottish Government time to deliver

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Keeping pay and tax records

Following the 31 January 2021 deadline for submission of Self-Assessment tax returns for 2019-20, it can be a useful exercise to review the rules for keeping your pay and tax records. There are no set

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Drifting into the HICBC

The High Income Child Benefit Charge (HICBC) could apply to your clients if their income exceeds £50,000 for the first time this year and they are in receipt of child benefit. The charge effectively

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Simplified expenses motor vehicles

There are simplified arrangements in place for the self-employed (and some partnerships) to claim a fixed rate deduction for certain expenses where there is a mix of business and private use. The

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Online tax payment plans

New figures published by HMRC have revealed that some 25,000 taxpayers have set up an online payment plan to manage their tax liabilities spreading payments of £69 million for up to 12 monthly

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