Tax Diary July/August 2023
1 July 2023 – Due date for corporation tax due for the year ended 30 September 2022. 6 July 2023 – Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A NICs. 19 July 2023 – Pay Class 1A NICs (by the 22 July 2023 if paid electronically). 19 […]
Deadline to top-up National Insurance contributions extended
In certain circumstances it can be beneficial to make voluntary National Insurance Contributions (NICs) to increase your entitlement to benefits, including the State or New State Pension. Usually, HMRC allows you to pay voluntary contributions for the past 6 tax years. The deadline is 5 April each year. However, there is currently an opportunity for […]
Gift Aid tax benefits
The Gift Aid scheme, which was originally introduced in 1990, allows charities to reclaim from HMRC the basic rate of Income Tax deducted from qualifying donations by UK taxpayers. This means that when a basic rate taxpayer claims gift aid on a £10 donation, the charity can reclaim from HMRC the £2.50 of tax paid […]
HMRC tax credits scam warning
Fraudsters often try to take advantage of the 31 July deadline for submitting tax credits renewal information. The fraudulent emails, texts or calls claim to be from HMRC and often promise money back in the form of a tax rebate together with a click-through link to a replica of the HMRC website. The fraudsters then […]
Help to Save extended to April 2025
HMRC has confirmed that plans to extend the Help to Save scheme by 18 months, until April 2025 have been confirmed. The Help to Save scheme is intended to help those on low incomes to boost their savings. Eligible users of the scheme can save between £1 and £50 every calendar month and receive a […]
New support measures for mortgage holders
Support measures have been agreed for those struggling with, or anxious about, their mortgage repayments. A new mortgage charter was approved following a meeting of the Chancellor of the Exchequer, the UK’s principal mortgage lenders and the Financial Conduct Authority. Three of the key measures Anyone concerned can talk to their bank or their mortgage […]
