The government has announced several tax consultations on its Tax Administration and Maintenance Day, 27 April. These include measures designed to support the government's ambition to simplify and modernise the…
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The latest Finance Bill will legislate the announcement in the Spring Budget that the lifetime allowance (LTA) charge will be abolished from 6 April 2023. Individuals will still be able…
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Where benefits in kind are provided to employees, this will usually result in an income tax charge on the employee and a Class 1A national insurance (NI) charge on the…
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The deadline for filing the P11d forms to report benefits in kind in respect of directors and employees for 2022/23 is 6 July 2023. Note that the original and amended…
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National Insurance Contributions (NICs) Like the main income tax bandings, employer and employee NIC thresholds are now also frozen until 5 April 2028. This broadly means that employers’ NIC will…
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If you are aged 45 to 70 and have gaps in your National Insurance record prior to 2016, then this blog is for you. At MMG Chartered Accountants, we understand…
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It’s not too late to undertake some end-of-year tax planning. If you have available funds, an obvious tax planning point would be to maximise your £20,000 ISA allowances for the…
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As well as charging interest on tax paid late, HMRC may also levy a penalty where there is an error in a tax return. These penalties may be judged as…
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