Nov 30, 2023 | Autumn Statement, Cost of Living Crisis, HMRC, Money, Tax
Chancellor Jeremy Hunt announced several tax breaks for individuals and businesses in this year’s Autumn Statement ahead of the General Election next year. While they will help to put a little more money back into our pockets, other decisions made over many... 
Nov 30, 2023 | Accounting, NI, Tax, Veterans
The biggest tax cuts announced by the Chancellor in his Autumn Statement were in NICs, where self-employed people will no longer pay Class 2 NICs at all from April 6, 2024. Class 4 NICs will be reduced from 9% to 8% from the same date. Class 1 employee NICs –... 
Oct 31, 2023 | Accounting, Tax, Tax Avoidance
Thousands of people found themselves caught up in the IR35 tax avoidance problems, where freelancers who were earning through a limited company set up to deal with their income were deemed – retrospectively – by HMRC to have been involved in tax avoidance.... 
Oct 31, 2023 | HMRC, NI, Tax
Group income protection policies taken out through employer salary sacrifice schemes have been wrongly treated for tax thanks to incorrect advice given by HMRC to the Association of British Insurers back in October 2019. Even though HMRC corrected this advice in... 
Aug 31, 2023 | Pensions, Tax
People making the most of flexible pension withdrawals have been facing tax overpayments due to miscalculations by HMRC. In Q2 2023 alone, the taxman repaid £56,243,842 to people who had been taxed more that they should on their pension withdrawals. This amounts...
