Summer Budget 2015

by | Jul 8, 2015

The ’emergency’ Budget overall looks to me to be a tax-raising budget. In particular, some currently receiving tax credits will be hit, as well as those letting out investment properties. However from April 2017, the raised tax-free personal allowance and...

Budget 2015: an end to tax returns?

by | Mar 18, 2015

The prospect of no longer needing to submit a yearly income tax return is appealing! A few taxpayers with very straightforward tax affairs will, it seems, come out of the Self Assessment system entirely with no need to make returns. For most others, the obligation to...

Payment of income tax due 31 January

by | Jan 30, 2015

I recommend using BillPay with a debit card at https://www.santanderbillpayment.co.uk/hmrc/scripts/help3.asp. It’s instant, although the confirmation email can take 2-3 days. If not using BillPay, it’s now too late for BACS if your bank takes three working days...

Budget 2014 – savings?

by | Mar 19, 2014

This was billed as a budget for ‘makers, doers and savers’.  Recent years of recession mean that many probably feel they have been making do and not saving! Before even beginning to think about making long-term use of the various savings incentives...

Class 1 National Insurance for session musicians

by | Mar 19, 2014

Those who have been hardest hit by Class 1 NICs deducted from ad hoc session payments will already know from me that HMRC are stopping this treatment.  From this April this should remove the need to sign up as an ’employee’ of an organisation you might...