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| HMRC homes in on Airbnb landlords | Planning your profit extraction |
| Online platforms such as Airbnb are now obliged to provide HMRC with data about the payments it makes to individuals who let rooms on a short-term basis. HMRC is matching that data to tax returns and writing to taxpayers who have apparently not declared t.. Read More... | In his Autumn statement in November 2022 Chancellor Hunt announced cuts to the dividend allowance and the additional tax rate threshold, where individuals start to pay tax at 45%. You need to take these changes into account when planning how and when to e.. Read More... |
| Plugging NIC gaps | March Questions and Answers |
| Many people don‘t realise that they have significant gaps in their National Insurance Contribution (NIC) record, and as a result they won‘t be entitled to the full state retirement pension. This can come as a shock when you start to receive your state pen.. Read More... | My company is buying an electric car for me to use for business and private journeys. In truth there will be very few business journeys. Can the company still claim the 100% first year allowance, although the business use will be small?.. Read More... |
| March Key tax dates | Spring Budget - 2023 |
Newsletter issue – March 2023 2 - Where income tax, CGT, class 2 NIC or class 4 NIC remains unpaid for 2021/22 a 5% penalty is imposed. This penalty can be avoided if a time to pay arrangement is agreed in advance with HMRC. 10 - Last day to set up a variable direct debit to pay PAYE for payment this month. 15 - Chancellor Hunt to present his Spring Budget. 22 - PAYE, NIC and student loan deductions to be paid to HMRC by electronic means for month to 5 March 2023, unless the employer has set up a direct debit so HMRC can collect the amounts due. 31 - Last day to amend returns and pay any outstanding ATED charge for the year 1 April 2021 to 31 March 2022. | Chancellor Hunt billed his Budget as a Budget for growth with emphasis on fixing problems in the labour market alongside improving business investment and innovationRead More... |
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