When there’s no benefit to child benefit
Child benefit payments give new and growing families a boost in their household income, however higher earners may be caught out with a clawback charge offsetting the benefit received.
Understanding quarterly instalment payments for corporation tax in the UK
Quarterly instalment payments (‘QIPs’) are a mechanism through which HM Revenue and Customs (‘HMRC’) collect corporation tax from ‘large’ companies.
Making Tax Digital for Income Tax
HM Revenue & Customs are introducing Making Tax Digital (MTD) for Income Tax from 6 April 2026. This will change the way sole-traders and landlords keep their records and report their income and expenses.
HMRC to enable Child Benefit charge clawback through PAYE
Taxpayers facing the High Income Child Benefit Charge (HICBC) will soon be able to pay the charge through their payslip, saving them the trouble of filing self-assessment tax returns.
Spring Statement reaction
My colleague Ed Passmore wrote in Wednesday’s EDP that businesses shouldn’t expect too much from Chancellor Rachel Reeves’ spring statement, and he wasn’t wrong – there was precious little which will directly affect business. But that doesn’t mean that there weren’t a few nuggets of interest.
CIOT calls on government to rewrite unfair VAT rules
The Chartered Institute of Taxation (CIOT) is calling on the government to address unfair tax rules as interest rates on late payments rise.
Important Tax Changes for Furnished Holiday Let Owners
What Married Couples and Civil Partners need to know before April 2025
HMRC late payment interest cut by 0.25%
HMRC has reduced late payment and repayment interest rates following the cut to the base rate.