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New interactive tool for transition period profit reporting
Reporting your profits could be more complicated this year due to the basis period reform. How can a new online tool help?
Scottish Budget confirms bands and rates for 2025/26
Ahead of the Scottish Budget, there were rumours that tax hikes were on the way. However, the announcements made on the day will see some easing of tax for lowe
Further relaxation of self-assessment thresholds announced
The government has announced changes to the threshold at which some taxpayers need to complete a tax return. What's the full story?
Workaround for botched HMRC student loan repayment calculations
HMRC systems cannot differentiate between certain types of income which could lead to an overpayment of student loan deductions. What's the solution?
Losses on CT returns may be incorrect
If you receive a letter from HMRC about your corporation tax losses, don't ignore it or you could end up overpaying. What's going on?
HMRC to reduce late payment interest
Late payment interest rates on underpaid taxes will decrease again due to the recent reduction in the Bank of England's base rate. What are the new charges?
Salary advances: change to reporting rules
Rule changes on payroll reporting for early salary payments have been relaxed. What do you need to know?
Relaxation of self-assessment threshold
HMRC has promised a change to the threshold at which self-employed taxpayers need to complete a tax return. What do we know so far?
Form P1000 now available digitally
Dealing with a deceased client's tax affairs can be drawn out, partly due to the authorisation process. However, a recent change should help simplify things.
Criteria for self-assessment are changing
You may have had to file a tax return if your income exceeded the point where the personal allowance starts to be tapered away. This has changed for 2023/24.
Cash in old certificates of tax deposit before it's too late
The Certificate of Tax Deposit Scheme will come to an end on 23 November 2023, yet £89 million remains unclaimed. What should you do if you have such a certific
Paper filing deadline just days away
The standard filing date for a personal tax return is 31 January. However, if you submit paper returns you need to do it earlier. What's the paper filing date,
HMRC reminds cryptoasset holders of tax obligations
Ahead of this month's filing deadline for 2022/23 tax returns, HMRC is urging cryptoasset holders to check if they need to report transactions.
Have your say on e-invoicing
The government is seeking views on the standardisation of electronic invoicing. Why, and how can you join the consultation?
Latest advisory fuel rates published
The HMRC-approved amount that employers can reimburse staff for business travel in company cars changes from 1 December 2023. What are the new rates?
Government seeks views on inheritance tax changes for trusts
The government has opened a consultation on the application of the £1m allowance for property settled into trust qualifying for 100% property relief.
New online VAT registration tool
A new online tool has been launched to help businesses understand the impact of being VAT registered. What's the full story?
Loan written off: are you in HMRC's crosshairs?
HMRC is writing to directors that took a loan from their company that was later written off or released. What should you do if you receive a letter?
Rogue refunds of Class 2 NI due to HMRC failure
HMRC has incorrectly refunded Class 2 NI to some self-employed taxpayers. What should you do if you get an unexpected payment?
HMRC warns employers over seasonal staff pension rights
Businesses that take on temporary staff over busy periods, e.g. the summer holidays, need to check whether they have obligations under auto-enrolment.
HMRC launches remittance basis toolkit
A new toolkit aimed at assisting non-domiciled taxpayers that use the remittance basis has been launched. What does this do?
Latest advisory fuel rates for company cars - 2025
The amount that employers can reimburse staff for business travel in company cars changed from 1 September 2025. What are the new rates?
MTD ITSA guidance updated following Budget
The Budget contained announcements regarding the rollout of Making Tax Digital for Income Tax Self-Assessment (MTD ITSA). What's the latest updated position?
Late payment interest rates changed again
Late payment interest rates on underpaid taxes will soon decrease again due to the recent reduction in the Bank of England's base rate.
HMRC issues reminder about new R&D tax relief rules
Despite new requirements for research and development (R&D) claims being in force for a month, almost half of claims made since then have omitted the necess
HMRC launches PAYE code tool
HMRC has launched a new online tool to help you understand your PAYE code. What is it and how can you use it?
New online service for voluntary contributions goes live
Gaps in your NI history? You can now pay voluntary contributions online to increase your entitlement to certain benefits. How do you access the new service?
Form 652 withdrawn by HMRC
HMRC has withdrawn Form 652. How should you notify VAT errors going forward?
HMRC MTD ITSA webinar - worth a look?
Making Tax Digital will be mandatory for some traders and landlords next year. Ahead of this, the government is ramping up its guidance to help you get ready.
Changes to VAT zero rating imminent
HMRC has announced an extension to the materials qualifying for the VAT zero rate from 1 February 2024. What's the full story?
Child Benefit claimants could be missing out on full state pension entitlement
If you claimed Child Benefit prior to May 2000 you may have missed out on valuable qualifying state pension years due to nuances in HMRC's systems.
Child benefit goes digital
HMRC's new online service for child benefit: Claim in 10 minutes, receive payments in 3 days. What's needed to use the service?
HMRC cuts late payment interest following base rate changes
Late payment interest rates on underpaid taxes will soon decrease due to the recent reduction in the Bank of England's base rate. What are the new rates?
Latest advisory fuel rates for company car drivers
The amount that employees can be reimbursed for business travel in company cars changed from 1 September 2024. What are the new rates?
Latest guidance on correcting VAT errors
Early in 2023 HMRC launched an online tool for helping you correct errors in VAT returns. After a settling-in period HMRC has recently published new guidance on using the tool.
Advisory fuel rates for company cars from 1 June 2024
The amount that employers can reimburse staff for business travel in company cars changes from 1 June 2024. What are the new rates?
HMRC U-turn on helpline closures
HMRC announced that it would be scaling back its tax helplines. It has now seemingly reversed the decision. What's going on?
Latest advisory fuel rates for company cars
The amount that employees can be reimbursed for business travel in company cars changes from 1 December 2024. What are the new rates?
Beware of Sunday payment deadline this month
The deadline for paying monthly PAYE is on the 22nd of each month. For September 2024, this falls on a Sunday. What can you do to avoid late payment?
Permanent increase to penalty interest rates
The new tax year saw a change to the way interest on late paid taxes is calculated. What's changed and what are the new charges?
HMRC pauses some refund claims for agents
Due to security concerns, HMRC has warned that it will not process refund claims made by authorised agents. What's going on and what alternatives are available?
HMRC scraps paper VAT registration
From 13 November HMRC will abolish the paper VAT registration form. How will new applications be made from that date?
Scammers already targeting pensioners over winter fuel payments
Phishing attacks are being sent to pensioners purporting to be from the Department for Work and Pensions. What's going on?
HMRC reopens self-assessment helpline
HMRC's self-assessment helpline was closed in June. It's now reopened for calls ready for the tax return filing season. What do you need to know?
Winter fuel payments to be clawed back via tax system
A government U-turn on the winter fuel payment was announced this week, with a new means-tested threshold. How will this work in practice?
HMRC payroll reporting for Christmas
HMRC's recent guidance to employers includes a reminder about its concession for real time reporting requirements of payroll over the Christmas period. More.
Adding Strength to our Business
We are delighted to announce that Inspire Financial Management have engaged with Galley and Tindle Accountants in Durham, to form a strategic collaboration between our two firms.