News and the latest developments at HMRC

Chancellors Budget 19.03.2014

Income Tax and National Insurance – please see our pre-budget update. Corporation Tax – from 1.4.14 the small companies rate remains at 20% (on the first £300k of profits). The large companies rate drops from

Read More

Pre-budget Update

Following the Autumn Statement and subsequent releases changes for the tax year 2014/15 have been outlined as below National Insurance Contributions Self-employed class 2 will be £2.75 per week Self-employed class 4 will be payable between £7956 and £41865

Read More

HMRC scam emails

Please be aware of emails purporting to be from HMRC stating you are entitled to a tax refund. HMRC do not advise any tax position by email so please be very cautious of any email

Read More

HMRC new taskforces

HM Revenue & Customs has created 4 more tax investigation task forces including 2 based around the Midlands. 1 – Individuals living beyond their means 2- Anyone dealing in second hand cars

Read More

Chancellors Budget 20.3.13

Income tax – for 2013/14 the personal allowance increases to £9440 for those aged under 65, £10500 for 65-74’s, and £10660 for those aged 75 and over. The next £32010 will be subject to tax

Read More