Paying the High Income Child Benefit Charge in 2025
Employed taxpayers who are liable for the High Income Child Benefit Charge (HICBC) will no longer need to submit a self-assessment tax return from summer 2025 onwards.
An insight from the gbac team on all things accounting, finance and more.
Employed taxpayers who are liable for the High Income Child Benefit Charge (HICBC) will no longer need to submit a self-assessment tax return from summer 2025 onwards.
Landlords and self-employed people earning between £20,000 and £30,000 a year will now be required to switch to the Making Tax Digital (MTD) regime from 6th April 2028.
While the originally planned Spring Forecast was upgraded to a Spring Statement, there were no tax increases announced on Wednesday 26th March – but is this simply a deferred burden?
In an instance of surprising generosity, HMRC compensates smaller employers to make it easier for them to administer statutory payments to their employees.
HMRC has launched a new campaign to remind people that earning extra income from a ‘side hustle’ – a smaller income source outside of your primary job – also comes with tax obligations.
After the 2025–2026 tax year starts on 6th April, directors of close companies will have to report the dividend income they receive from their company separately.
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