One in five workers will be higher rate taxpayers by 2027, says IFS

Jun 09, 2023

The number of people paying income tax at 40% or above will reach 7.8 million by 2027/28, according to research published by the Institute for Fiscal Studies (IFS).

This represents one in five…

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'Fresh thinking' needed in regard to MTD for ITSA

Jun 08, 2023

The Institute of Chartered Accountants in England and Wales (ICAEW) has written to HMRC regarding how Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) can be better shaped to suit the…

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HMRC increases late payment interest rate

Jun 06, 2023

Following the Bank of England's latest increase in the base rate, HMRC has increased both late paid tax and the rate paid on repayments of tax.

The Bank increased the base rate to 4.5% from…

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Advisory fuel rates for company cars

Jun 06, 2023

New company car advisory fuel rates have been published and took effect from 1 June 2023.

The guidance states: 'you can use the previous rates for up to one month from the date the new rates…

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Number of early self assessment filers doubles in five years

Jun 01, 2023

The number of self assessment taxpayers filing their tax return on the first day of the tax year has more than doubled since 2018, HMRC has revealed.

More than 77,500 customers submitted their…

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UK rate of inflation fell sharply in April

May 31, 2023

The UK rate of inflation fell to 8.7% in April from 10.1% in March, according to the latest data from the Office of National Statistics (ONS).

The fall has been attributed to energy price rises…

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Don't miss out on a tax refund for work expenses, HMRC urges

May 30, 2023

HMRC is reminding employed workers they can claim a refund on work-related expenses on the GOV.UK website.

More than 800,000 taxpayers claimed refunds for work expenses during the 2021/22 tax…

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Energy suppliers urged to renegotiate fixed contracts for small businesses

May 26, 2023

The Federation of Small Businesses (FSB) has urged energy suppliers to renegotiate fixed contracts for small firms on market-peak tariffs.

Research carried out by the FSB revealed that many…

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Newsletter - May 2023

May 22, 2023

Armstrongs newsletter

Armstrongs produce a regular newsletter for clients and contacts.

In this issue, we are delighted to tell you about our Corporate Games involvement, include details…

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