Mar 29, 2022 | Personal Tax
Self-assessed taxpayers have less than a week to pay their tax bill or set up a time-to-pay arrangement with HMRC, otherwise they will be facing additional costs. Any taxpayers who have outstanding payments to make to HMRC for their 2020/21 tax returns are being urged...
Mar 21, 2022 | Personal Tax
The freeze in income tax thresholds and rising inflation means the Treasury will collect £13 billion more than previously predicted, according to the Institute for Fiscal Studies (IFS). The Treasury could raise as much as £21bn, which is £13bn more than the £8bn that...
Mar 3, 2022 | Personal Tax
Revenue collected from inheritance tax (IHT) between April 2021 and January 2022 totalled £5 billion, £0.7bn higher than in the same period a year earlier. IHT receipts were 16% higher during the period, which HMRC predicts is due to higher volumes of wealth transfers...
Mar 2, 2022 | Personal Tax
Over one million individuals completed their self-assessment tax returns in February, using the extra time to file one without facing a penalty. HMRC expected around 12.2m taxpayers to file a return for the 2020/21 tax year and more than 11.3m submitted theirs by 28...
Feb 25, 2022 | Personal Tax
Around £2.8 billion of pension-age benefits went unclaimed in 2019/20, figures from the Department for Work and Pensions revealed. Estimates of take-up suggest seven out of ten of those entitled to pension credit claimed the benefit, taking 77% of all that could have...
