Insights

Personal Tax

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September 18, 2023

Interest rate rises fuelling increased tax take


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The Bank of England base rate increase is impacting on the government’s tax takes, with more taxpayers paying tax on savings income.

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September 11, 2023

Finalising returns figures and filing early


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HMRC is chasing taxpayers who have submitted tax returns for 2021/22 containing unresolved provisional figures.

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August 21, 2023

Behind the numbers on income tax


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New income tax statistics from HMRC appear to be good news, but the numbers are not what they seem.

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August 14, 2023

Wealth tax, take two?


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Hard on the heels of the Sunday Times Rich List, will new proposals for a wealth tax gain any traction?

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July 24, 2023

HMRC offers options on undeclared wealth


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HMRC is offering taxpayers named in the leaked Pandora Papers a chance to correct their tax affairs.

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July 17, 2023

National insurance gap extension


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Transitional arrangements allow gaps to be filled back to 2006/07. The deadline for making such contributions was recently extended to 31 July 2023, but has now been extended to 5 April 2025.

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July 3, 2023

More estates paying IHT


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The average IHT bill is now nearly £62,000, with much larger amounts payable if an estate includes a property in London or the South East.

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June 26, 2023

Self-assessment threshold rises from 2023/24


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Previously, exemption was subject to a £100,000 income ceiling, but the threshold has been increased to £150,000 for the current tax year onwards.

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June 12, 2023

Government’s tax take on growth trajectory


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Analysis of the projected outcomes of the government’s tax policies show an expected increase to the number of higher rate personal taxpayers, with the corporate tax yield expected to grow substantially.

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June 5, 2023

Potential benefits from directors’ loans


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Business owners could seek to earn interest on directors’ loans with little-to-no tax implications, although only patient directors willing to meet the reporting requirements will benefit.

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May 29, 2023

2023/24 – the 23-month tax year?


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If you are self-employed, the new tax year may be longer than you think.

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May 15, 2023

Childcare support extended to children over nine months


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The government is extending the provision of 30 hours of free childcare for 38 weeks to now include all pre-school children over the age of nine months.

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