Tax is too complicated… say the legislators
A parliamentary committee has been examining efforts to simplify tax, but progress is still a long way off. Among other things, last year’s ill-fated ‘mini-Budget’ was notable for the swiftness with which Jeremy Hunt reversed most of the proposals it … Continue reading
Not that interested: savers short-changed on rate hikes
The Bank of England has been looking at the impact of its regular interest rate increases since December 2021, with analysis revealing savers are being short-changed. Source: Bank of England, NS&I. Every three months the Bank of England issues a … Continue reading
NICs deadline deferred, again
If you were planning to fill the gaps in your national insurance contributions (NICs) record by 31 July, you no longer need to rush or worry – you now have until 2025. As is often the case with financial deadlines, … Continue reading
Will you be fueling the inheritance tax bonanza?
Recent data has revealed that inheritance tax (IHT) receipts reached a record level in the 2022/23 tax year. Source: HMRC. Every month the government publishes data that sets out HMRC’s cash tax receipts in detail. The data issued in late … Continue reading
2023/24 – the 23-month tax year?
If you are self-employed, the new tax year may be longer than you think. If you are self-employed, until 2023/24, you have normally been taxed on the profits made in the accounting year that ends in the tax year. For … Continue reading
