Penalties if you missed the filing deadline
Have you missed the 31 January 2024 filing deadline for your 2022-23 self-assessment return?
If you have missed the filing deadline, then you will be charged a £100 fixed penalty
File early to have self-assessment tax coded out
The coding out threshold may entitle you to have tax underpayments collected via your tax code when you are in employment or in receipt of a company pension. Instead of paying off
Do you need to tell HMRC about additional income?
There is an online tool that allows taxpayers to check if they need to notify HMRC about additional income. The online tool can be found at
Do you need to register for self-assessment?
There are a number of reasons why you might need to complete a self-assessment tax return. This includes if you are self-employed, a company director, have an annual income over
Reminder to claim the Marriage Allowance
The marriage allowance applies to married couples and those in a civil partnership where a spouse or civil partner does not pay tax or does not pay tax above the basic rate
Less than one month to tax return filing deadline
A new press release from HMRC has highlighted that 49,317 taxpayers took the time to file their tax returns online over the New Year holiday. It is estimated that over 6.5 million
Beware higher rate tax on dividends
Readers are reminded that if the dividends they draw from their company, when added to their other income, exceeds the basic rate Income Tax Band, then much higher rates of
What happens if your income exceeds £100K 2023-24?
If you earn over £100,000 in any tax year your personal allowance is gradually reduced by £1 for every £2 of adjusted net income over £100,000 irrespective of age. This means that
Helpline delays at HMRC
HMRC’s self-assessment (SA) helpline will focus on priority queries from 11 December until 31 January. Whilst the helpline is focusing on priority calls in the run-up to the filing
Help to pay your tax this month
If you are having trouble paying your tax on time you may be eligible to receive support from HMRC by applying for an instalment payment plan. An online payment plan for