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For taxpayers who have trouble affording their tax bills, HMRC has updated its process for setting up time to pay arrangements. If you have missed the self-assessment filing deadline of 31 January, and are struggling to cover your tax payments, you can now set up a time to pay arrangement online with HMRC. The online […]

The allowance effectively sets the maximum pension contributions from all sources (including your employer) on which you may be able to claim income tax relief. In recent times it has been the subject of much controversy because of the way the allowance is tapered from the ‘standard’ £40,000 to as little as £10,000 for high […]

It happens every year – the countdown to the end of January. Many of us make pre-new year’s resolutions to get our self-assessment forms done early. However, according to HMRC data, just over 3,000 people submitted their returns on Christmas Day, taking advantage perhaps of the lull in festivities or an escape from cooking commitments. […]

As many families across the country waved off students into the next stage of growing up and taking control of their own finances, advice from HMRC on student-targeted scams, coupled with a wider tax knowledge survey, highlight potentially dangerous gaps in public understanding of the tax system. Cybercrime is far from confined to big banks […]

A recent report looking at who pays the most income tax reveals some interesting findings. The Institute for Fiscal Studies (IFS) published a briefing note in early August with a detailed answer to the question of what it takes to enter the 1% club. Around 310,000 people make up this cohort, with some predictable and […]

Is a state pension age (SPA) of 75 looking more likely? Recommendation The SPA should better reflect the longer life expectancies that we now enjoy and be used to support the fiscal balance of the nation. The SPA in the UK is set to rise to 66 by 2020 (Pensions Act 2011), to 67 between […]