Launch of the Tax-Free Childcare Scheme
It has been confirmed that the new Tax-Free Childcare Scheme (TFCS) will be launched on 28 April for parents of young children. All eligible parents will be able to join the scheme by the end of 2017.
Category: Income Tax
New Investment Bond
It was announced as part of the last autumn statement that a new National Savings and Investments (NS&I) product called the NS&I Investment Bond will be launched. It has now been confirmed
Second incomes campaign
The second incomes campaign offers individuals the opportunity to inform HMRC that they have undeclared income from a supplementary income stream. The campaign targets individuals in employment who
Is a Self Assessment return required?
There are a number of reasons why a taxpayer needs to complete a Self Assessment return. This includes if they are self-employed, a company director, have an annual income over £100,000 and / or have
Spring Budget 2017 – Dividend allowance
The new dividend tax allowance was introduced in April 2016. The new allowance replaced the dividend tax credit with an annual £5,000 dividend allowance with tax payable on dividends received in
Changes to the Scottish rate of Income Tax
The Scottish Rate of Income Tax (SRIT) commenced on 6 April 2016 and is administered by HMRC on behalf of the Scottish government. The SRIT is payable on the non-savings and non-dividend income of
Requesting an SA302 from HMRC
The SA302 tax calculation and tax year overview documents are commonly used as evidence of income for loan or mortgage purposes for the self-employed. The forms have become more widely used since the
Let property campaign
HMRC’s Let Property Campaign provides landlords who have undeclared income from residential property lettings in the UK or abroad with an opportunity to regularise their affairs by disclosing any
Late filing of Self Assessment tax returns
Taxpayers that have not yet filed their 2015-16 Self Assessment returns will have been charged an automatic £100 penalty for late submission. The penalty applied from 1 February 2017 even if no tax
Tax relief changes for buy-to-let landlords
It is now only a couple of months until the changes to tax relief for buy-to-let landlords start to take effect. From April 2017, tax relief on mortgage costs is to be gradually restricted to the