An HMRC compliance check is more than just a review, it’s an investigation into the accuracy of your tax return. While many believe these checks are random, most are based on real red flags within your financial activity. This article…
Have you received a letter from HMRC telling you that you’ve overpaid tax? This letter, often referred to as a P800, could mean you’re entitled to a tax refund. Knowing how to claim this refund correctly ensures you get your…
The transition to digital tax reporting is changing how individuals and businesses manage their finances. One of the key elements of this transformation is Making Tax Digital (MTD) for Self Assessment. This change will affect self-employed individuals and landlords by…
Rachel Reeves, the Chancellor of the Exchequer, is reportedly considering a bold shift in taxation aimed at landlords to address the UK’s growing financial deficit. Facing a £40 billion budget shortfall, her plan includes levying National Insurance on rental income,…
Rachel Reeves’ recent approval of sweeping tax reforms marks a turning point for UK savers. With a sharp focus on boosting revenue and closing tax loopholes, her crackdown will see banks sharing customer data directly with HMRC. From April 2027,…
Inheritance tax has long been a topic of contention in the UK, and now it is once again in the spotlight. With Labour’s Shadow Chancellor Rachel Reeves poised to introduce changes if elected, families across the country are rightfully paying…
Filing your tax return is one thing, waiting for HMRC to process it is another. Especially if you’re expecting a refund, that waiting period can feel uncertain. As someone submitting their Self Assessment online, you might wonder when you’ll see…
Have you heard about the new road tax changes coming in 2025? If you’re an older driver or a retired motorist, these updates could have a significant impact on your finances. With the UK Government introducing new Vehicle Excise Duty…
Filing a Self-Assessment tax return is a crucial responsibility for UK businesses and self-employed individuals. Every year, HMRC sets a deadline for submitting tax returns, and missing it can lead to hefty penalties and interest charges. As the deadline approaches,…
The UK government is introducing significant updates to the Vehicle Excise Duty (VED) system from 1 April 2025, impacting electric, zero-emission, and low-emission vehicles. These changes will bring the taxation of electric cars in line with petrol and diesel vehicles,…