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Category: Personal

Tax Update July 2023

Welcome to the July 2023 Tax Update. In this edition we take a look at Super Deduction’s replacement, the extended deadline for topping up NI contributions, the VAT flat rate scheme, working from home, school fees plans, and this month’s events on the accounting horizon. If you need any help…

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Further extension to voluntary NI contributions deadline

The UK Government is giving people more time to pay National Insurance contributions towards their State Pension. Taxpayers now have until 5th April 2025 to fill gaps in their National Insurance record from April 2006 that may increase their State Pension – an extension of nearly 2 years. Extending the…

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Managing Inheritance Tax

Like many other taxes, Inheritance Tax (or IHT) allowances have been frozen. This sounds generous of the Chancellor at a time when the Government is strapped for cash. However, it actually means that we are paying more. Data from HMRC has revealed that Inheritance Tax collected between April 2022 and…

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Your Long-Term Financial Stability with Folkes Worton LLP Charte

Your Long-Term Financial Stability

With the uncertainties surrounding the economy, it’s an ideal time to be thinking about financial stability. So, if we want to provide those we love with security, it’s best to think long-term. The pandemic and the current increase in the costs of living show all too clearly that good health, and…

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Tax Update January 2023

Happy New Year from everyone at Folkes Worton! Here’s our first Tax Update of 2023 – watch this space for our regular monthly updates. New Year Resolutions to Save Tax At this time of year we think about New Year’s resolutions. It is also a good time to start planning…

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Beware of fraudsters seeking to attack personal tax accounts

Beware of fraudsters seeking to attack personal tax accounts

Beware of fraudsters seeking to attack personal tax accounts HMRC is warning individuals not to share their personal information online to avoid their identities being used to claim bogus Self-Assessment tax refunds… Folkes Worton #AccountingForTheFuture #HMRC #selfassessment #taxrefund #fraudsters #phishing

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Delaying Your Tax Return

No Extension to Self-Assessment Tax Return Deadline

With the Self-Assessment Tax Return deadline remaining at 31st January 2021, over one million people planning to delay filing their tax returns will face having to pay fines and interest for late submission and payment. Stress due to the current pandemic is causing many people who file self-assessment tax returns…

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Tax Deadline 2021

Struggling with the Tax Deadline?

The last day for submitting and arranging payment of your 2019-20 Tax Return is Sunday 31st January 2021. With everything that has happened this year, it’s understandable that many people are struggling to meet the deadline – Folkes Worton can help, taking the pressure off you to complete your return…

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Bereavement payments

The Bereavement Allowance was a weekly benefit that was payable to certain widows, widowers, or surviving civil partners whose spouse or civil partner died before 6 April 2017. Prior to that date, it

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