Many self-employed, and partners in partnerships, claimed the fourth and fifth Self-Employment Income Support Scheme (SEISS) grants during the last tax year.1 LITRG is reminding SEISS claimants that these grant payments are taxable income and need to be included on their 2021/22 Self ...
Self-Employment Income Support Scheme (SEISS) grants were paid to many self-employed individuals and partners in partnerships during the coronavirus pandemic. These grants need to be included on your tax return as they are subject to income tax and self-employed National Insurance contributions.
The umbrella company marketplace is constantly changing. In this article we highlight five things to watch out for in 2022/23 if you are about to sign up to, or are already working through, an umbrella company.
Scottish student loan borrowers may be making repayments under ‘Plan 4’ from the 2021/22 tax year onwards. This article explains who falls under Plan 4 and how the loan repayments are calculated. It also covers what student loan information you need to put on your tax return and where you can find ...
On 18 March 2022, the government launched the ‘Homes for Ukraine’ scheme. Under the scheme, those who accommodate refugees of the conflict in Ukraine are given a monthly ‘thank you’ payment of £350. We explore what this means for taxpayers and benefit claimants.
From 1 May 2022, HMRC will charge you daily penalties of £10 if you have not yet submitted your 2020/21 Self Assessment tax return (assuming the return was not issued late). Unless HMRC agree to cancel the need for a tax return, you should send it in as soon as possible – online, rather than on ...