Personal Tax

HMRC warns of date for making extra NI shortfall payments

HM Revenue and Customs (HMRC) has reminded some people that, if they wish to take advantage of the chance to top up more than six years of their NICs, they need to act quickly.

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New business regulations come into effect this April

Each year, the government introduces regulatory changes affecting businesses on two common commencement dates. These dates are 6 April and 1 October.

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Call for Budget to 'review' flat rate VAT

The government has been urged to look at the issue of flat rate VAT charges in the forthcoming Budget.

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Date for making offshore tax payments imminent

People with offshore funds who made use of HM Revenue and Customs’ New Disclosure Opportunity have been reminded that payments of outstanding taxes must be made by 12 March.

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Employers given advice on incorrect staff tax codes

HM Revenue and Customs (HMRC) has updated employers on how actions that are being taken to correct a series of wrong employee tax codes may affect them.

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Pension tax changes criticised for their inefficiency

Plans by the government to raise taxes on the pension contributions of high-income individuals has been described as inefficient.

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The retired facing 'complex' tax regime

The tax system for people in retirement has been described as being too complex, and, as a result, too many older people overpay their taxes.

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Broadband tax would be 'regressive' say MPs

Plans to introduce a broadband tax of 50 pence a month on all fixed-line phones have been criticised by a House of Commons committee.

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ISAs attract women and young savers

More women and young people have been turning to Individual Savings Accounts (ISAs) since their introduction, new research suggests.

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