by | Aug 3, 2023 | Income Tax
The 2022-23 tax year ended on 5 April 2023 and the new 2023-24 tax year started on 6 April 2023. Many taxpayers will be happy to leave dealing with their 2022-23 tax returns until later this year or even until January 2024. The 31 January 2024 is not just the...
by | Jul 20, 2023 | Income Tax
If you have taxable income of less than £17,570 in 2023-24 you will have no tax to pay on interest received. This figure is calculated by adding the £5,000 starting rate limit for savings (where 0% of the interest is taxable) to the current £12,570...
by | Jul 13, 2023 | Income Tax
The SA302 tax calculation and tax year overview documents are commonly used as evidence of income for loan or mortgage purposes for the self-employed. The forms have become more widely used since the mortgage rules have required evidence of income for the...
by | Jul 13, 2023 | Income Tax
The second payment on account for Self-Assessment taxpayers for the 2022-23 tax year is due on 31 July 2023. Taxpayers are usually required to pay their Income Tax liabilities in three instalments each year. The first payment was due on 31 January 2023. The final...
by | Jul 13, 2023 | Income Tax
There are special rules to follow if you have submitted a Self-Assessment return and subsequently realise you need to change it. For example, this can happen if you made a mistake like entering a number incorrectly or missed information from the return. If...
by | Jul 6, 2023 | Income Tax
There are a number of reasons why you might need to contact HMRC about changes in your income. HMRC’s guidance states that this could happen because you: did not realise you needed to tell HMRC about it; were not sure how to declare it; or did not...
Client Portal