......and if that’s you, then advice is now more important than ever. There was once a time when paying tax at more than the basic rate made you a member of a somewhat select club.…
A new breed of digital nomad
The pandemic has freed many workers from the confines of the office, leading to the emergence of a new breed of digital nomad – people who can take their laptop, jump on a plane and…
Can the child benefit charge be fixed?
A critical review of how the government taxes child benefits has raised a major question mark over HMRC’s approach to collecting payments. Child benefit tax, or the High-Income Child Benefit Charge (HICBC) to use its…
NICs boost for the self-employed
Prior to the March Spring Statement, most self-employed individuals were facing increased national insurance contribution (NIC) bills this year. However, those with profits up to and just over £28,000 will now see a fall in…
What is a ‘reasonable excuse’ for tax penalties?
Having a reasonable excuse can be a get-out-of-jail-free card if you are charged a tax penalty. However, there is no statutory definition of the term, and what might constitute a reasonable excuse for one person…
Don’t forget to include Covid-19 payments on self-assessment returns
With the 2021 self-assessment tax return deadline on 31 January, HMRC has been busy reminding taxpayers to declare any Covid-19 grant payments they might have received. This is the first year they need to be…
Universal Credit eligibility expands to higher rate taxpayers
Autumn Budget reforms have created a surprising clash of benefits and income tax. The Covid-19 pandemic was the first time many people utilised Universal Credit (UC) for the first time – between February and May…
CGT reporting and payment deadline extended
I've taken a few calls recently, from a number of clients, on CGT on disposal of UK residential property, and although information on this is already in the public domain, here's a brief summary in…
HMRC: Upper Tribunal deems child benefit discovery assessments invalid
A discovery assessment can be made by HMRC where income, which should have been assessed, has not been assessed for tax purposes. A recent decision in an Upper Tribunal case, however, found that neither child…
Changes afoot for Basis period tax rules
Although it looks like the next Budget will be pushed back to spring 2022, several tax changes are already on the cards, some more certain than others. The government’s fast progress with reform of the…