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Thousands of couples could be missing the opportunity to reduce their tax by £250 a year. Married couples and people in civil partnerships can sign up for Marriage Allowance, which allows them to share their personal tax allowances if one partner earns below the Personal Allowance threshold of £12,570, and the other is a basic…

Businesses are being warned they could risk significant delays to importing goods if they don’t move to the UK’s new streamlined customs system. Organisations submitting import declarations must use the Customs Declaration Service from 1 October 2022, when the Customs Handling Import and Export Freight (CHIEF) system will close for import declarations. Businesses should check…

Families struggling to make ends meet in the cost-of-living crisis will be able to take advantage of special deals over the summer holidays. Some of the UK’s biggest businesses have signed up to offer discounts and deals through the Government’s Help for Households Campaign. Asda, Morrisons, Amazon and Vodafone are among those supporting the initiative…

1 August 2022 - Due date for corporation tax due for the year ended 31 October 2021. 19 August 2022 - PAYE and NIC deductions due for month ended 5 August 2022. (If you pay your tax electronically the due date is 22 August 2022) 19 August 2022 - Filing deadline for the CIS300 monthly…

There are certain circumstances when you will pay Capital Gains Tax when selling personal possessions. You may have to pay Capital Gains Tax if you make a profit (‘gain’) when you sell (or ‘dispose of’) a personal possession for £6,000 or more. For example, you may need to pay tax on sale of personally owned…

Now our present Prime Minister has indicated his intention to resign it seems unlikely that a successor will be appointed before September. Which means Boris Johnson’s cabinet are caretakers for the interim period and it is doubtful that there will be any far-reaching changes to UK taxes. The new Prime Minister and his or her…

Since 2017, there is no tax to pay on trading income or earnings from land and property as long as the income from each source does not exceed £1,000. Trading allowance The trading allowance is a tax exemption of up to £1,000 a year for individuals with trading income from: self-employment. casual services, for example,…

If you are locked into an IVA and are concerned that recent increases in the cost of living are creating severe financial pressures, you can ask your IVA supervisor to review your income and expenses to see if you are eligible for a reduction in payments or a payment break. You will be required to…

More than a million small businesses are now eligible for discounted software through a flagship government scheme after a change to the rules. The Help to Grow: Digital Scheme, which cuts the price of leading software to boost productivity and growth in the UK’s smaller firms, is now available to businesses with just one employee.…

More than a million of the lowest-paid workers in the UK will receive a financial boost from 2025. New Government legislation just published confirms that around 1.2 million low earners who save for their pension through a Net Pay Arrangement (NPA) will get the same level of government top-up as those who use Relief at…