Millions of pounds of taxpayers’ money have been saved as the Government clamps down further on benefit fraud. With a fresh determination to drive down fraud and errors in the benefit system, the overpayment rate has decreased by £400 million over the past 12 months. The latest national statistics confirm that in the past year […]
11
May
May
Low earners will benefit from plans introduced in a raft of tax changes to help them boost their savings. The Government has published 23 technical tax updates, many of which simplify and modernise the tax system. Among the changes is a reform to the Help to Save scheme, introduced for working people on low incomes […]
09
May
May
Millions of hospitality workers can look forward to seeing extra pounds in their pockets with the passing of a new Tipping Bill. More than two million workers will have their tips protected and be able to view an employer’s tipping record. An estimated £200 million a year will go to staff as they retain the […]
04
May
May
Energy intensive businesses can benefit from new support under the Government’s latest move to support industry. Some companies using high amounts of energy could see their bills slashed by as much as 20 per cent off predicted wholesale prices. Minister for Energy Consumers and Affordability Amanda Solloway said: “We are beginning to see light at […]
03
May
May
New legislation has been introduced to put an end to online fake reviews and subscription traps that costs more than £1bn a year. The measures will help ensure businesses and consumers are protected from rip-offs and can reap the full benefits of the digital economy with confidence. Businesses that breach consumer rights will come under […]
02
May
May
1 May 2023 – Due date for corporation tax due for the year ended 30 July 2022. 19 May 2023 – PAYE and NIC deductions due for month ended 5 May 2023. (If you pay your tax electronically the due date is 22 May 2023). 19 May 2023 – Filing deadline for the CIS300 monthly […]
02
May
May
The new pension tax reforms that were announced in the recent Spring Budget took effect from 6 April 2023. The old £40,000 cap on annual pension contributions has been increased by 50% to £60,000, with effect from 6 April 2023. Tax relief for contributions to pension schemes is given at a taxpayer’s marginal rate of […]
02
May
May
Scotland’s new First Minister Humza Yousaf has announced a new £15 million investment to help tackle child poverty. This investment will see thousands more low-income families benefit from free school age childcare. Existing services for eligible families in areas of Dundee, Clackmannanshire, Glasgow and Inverclyde will be expanded, with new services set up in other […]
02
May
May
If you earn over £100,000 in any tax year your personal allowance is gradually reduced by £1 for every £2 of adjusted net income over £100,000 irrespective of age. This means that any taxable receipt that boosts your income over £100,000 will result in a reduction in personal tax allowances. Accordingly, your personal Income Tax […]