Friday Tax Tips

Find out how to pay less tax with up to date Tax Tips and dozens of ways to reduce your tax bill.

Tax Tips  – News from HMRC – for Entrepreneurs & Individuals

 

 

Shareholders 1.25% Worse Off Under The NHS Health and Social Care Levy The levy will see an unprecedented 1.25% increase in NI contributions and dividend payments Shareholders of small businesses to be hit especially hard by double taxation Why is

20,000 UK Businesses Liable for New Plastic Packaging Tax 2022: Start Preparing Now The Plastic Packaging Tax is a new tax set to be introduced in April 2022 Businesses to be taxed on plastic packaging that doesn’t contain 30% recycled

‘Overly Complex’ New UK VAT Penalties Revision to Hit UK Businesses Next Year HMRC will enforce a new points-based penalty system for VAT and ITSA from 2022 The system aims to be ‘simple, fair and effective but could be ‘overly

What is tax on PPI Payment Protection Insurance (PPI) was mis-sold for decades, and from 2005 people started to claim back tax on PPI. By August 2019 the compensation topped £36 billion, with the average payout being close to £2,000. Many people

This page is not intended to constitute tax advice. The information provided in these documents are based on our understanding of current tax law; however, we do not represent or warrant the accuracy of the information contained herein, and any information provided may be incomplete or condensed. Furthermore, the suggestions contained within this document are for discussion purposes only and should not be relied on. You should seek formal tax advice before proceeding with any of the suggestions contained in these documents.