Tax credits Articles

Tax credits reminder

HMRC is actively sending out annual tax credit renewal packs to 730,000 claimants and strongly encourages online renewals. The campaign started on May 2, 2024, and aims to complete all deliveries by June 19, 2024. Taxpayers with a black-striped pack will receive automatic renewals. However, they must inform HMRC about any unreported changes, such as new working hours, different childcare costs,...

Time to renew tax credits

The HMRC has begun the process of sending out annual tax credit renewal packs to 730,000 claimants. They encourage recipients to renew their claims online. The distribution started on 2 May, and all recipients should have their packs by 19 June 2024. If your pack has a black stripe on the front, it means automatic renewal. However, you need to report any changes in your circumstances to HMRC....

Tax credits top-up

The Cost of Living support package has been designed to help over 8 million households in receiving mean tested benefits. The details for Cost of Living Payments due in the 2023-24 tax year were published earlier this year and have recently been updated. Eligible recipients will receive up to three Cost of Living Payments of £301, £300 and £299 over the current tax-year. This includes those...

Tax credits top-up

The Cost of Living support package has been designed to help over 8 million households in receiving mean tested benefits. The details for Cost of...

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Company filing obligations

It is important that anyone responsible for the accounts and tax filing regime for private limited companies is aware of...

Inheritance and tax

As a general rule, an individual who inherits property, money or shares is not liable to pay tax on the...

Labour win landslide election result

As had been widely predicted, the results at the polls have seen the Labour Party back in power after 14...

Exit plans

Exit can be seen as quitting, especially if the exit discussed is your business interests. But actually, business exit planning...

New government

Our new government, and in particular, Rachel Reeves, the new Chancellor, will be responsible for raising the funds that our...

Statutory redundancy pay

If you have been in the same job for two years or more and are made redundant you will usually...

Claim full expensing or 50% FYA

Full expensing offers a 100% first-year capital allowance for qualifying plant and machinery assets, reducing taxes for companies subject to...

Late night taxi for an employee

Employers have a duty of care to ensure employee wellbeing, which can include providing transport home during unsocial hours. While...

Income Tax in Scotland

The Scottish rate of income tax applies to non-savings and non-dividend income of Scottish taxpayers, defined by their close connection...
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