by admin | Mar 8, 2024 | Business, HMRC, Tax, Tax Planning, The Budget, The Economy
On 6 March we saw the Chancellor, Jeremy Hunt, deliver the spring budget ahead of the general election. The ‘Budget for Long Term Growth’ announced the economy is turning a corner with inflation expected to fall, lowering taxes, improving public services and seeing...
by admin | Feb 7, 2024 | Business, HMRC, Self Employed, Tax
At the start of the year, the press widely reported that people with a ‘side hustle’ selling clothes online could ‘end up paying tax on their earnings’ The reporting of this suggested that there were new tax rules, however, that is not the...
by admin | Nov 27, 2023 | HMRC, Self Employed, Tax
From 6/4/24 NO Class 2 NIC will be payable by the self employed with profits over £6,725 including those with profits over £12,570. Anyone with profits under £6,725 can make voluntary class 2 NIC contributions should they wish to keep a full NIC...
by admin | Oct 9, 2023 | Albert's Knowledge Share, Business, HMRC, Payroll, Pensions
Tax relief is available on contributions to registered pension schemes up to certain limits. There are two different methods by which employers can effectively give tax relief on employee contributions – net pay arrangements and relief at source. The names are...
by admin | Jan 5, 2023 | Self Employed, Tax
A reminder that the deadline for submission of self assessment tax returns for the year to 5th of April 2022 is fast approaching To avoid automatic penalties, tax returns must be submitted and the tax liability paid by 31st January 2023
