The change to the new ‘tax year’ basis (also known as basis period reform (BPR)) from the 2024/25 tax year onwards means that 2023/24 is a transitional tax year as we move to the new rules. This means the 2023/24 tax return will be more complicated than usual for affected sole traders and partners ...
HMRC are introducing evidence requirements for claims for tax relief on employment expenses. These requirements come into force on 14 October 2024. As a result, HMRC are also making changes to the process for claiming tax relief on employment expenses. This is to try to ensure HMRC only pay tax ...
With only a few weeks until the 31 October 2024 deadline for submitting a paper self assessment tax return, HMRC have confirmed that they will accept tax returns that have been downloaded and printed from GOV.UK, provided they are correctly completed and signed. We have welcomed this news.
The Low Incomes Tax Reform Group (LITRG) has welcomed a decision by HMRC that will make it easier for taxpayers to file a paper tax return.
Because of the ‘Tipping Act’, which came into force on 1 October 2024, more workers may now receive tips or receive them in different ways. Here we remind you that tips are taxable income and point you to the guidance on our website that explains what this means for you.
Starting or returning to studying this autumn? Planning on earning some money to help fund your way through your course? It’s important to understand your tax. Working students are taxed in the same way as other employees. This means that if you get an employed job – for example working shifts ...