Mandatory payrolling is now being introduced in stages. From 6 April 2027 onwards, employers will be required to payroll: For 2027/28, employers can opt to payroll all other benefits voluntarily, including taxable cheap employment-related loans and living accommodation benefits which…
The High Income Child Benefit Charge (HICBC) claws back child benefit if the recipient and/or their partner earns more than the threshold. For 2026/27, the charge applies once adjusted net income exceeds £60,000. Where both the recipient and their partner…
HMRC are changing the way that tax refunds are made to the majority of taxpayers who make a multi-year P800 tax refund claim. Claims must usually be made no later than four years from the end of the tax year…
HMRC send out a P800 tax calculation letter where a person who is employed and/or in receipt of a pension has overpaid or underpaid tax. They will not get a letter if they complete a Self-Assessment tax return instead; their…
HMRC have issued a warning that not all tax advice online is accurate. ‘Finfluencers’ (financial influencers) often present tax advice as ‘quick wins’ without covering the rules. This can be misleading as people may take action without being aware of…
Over the summer, HMRC consulted on proposals for the timelier payment of income tax due under Self-Assessment (ITSA). Currently, taxpayers within Self-Assessment must pay their income tax and any Class 4 National Insurance by midnight on 31 January after the…
If you have a PAYE Settlement Agreement (PSA) in place for 2025/26, you will need to pay the tax and Class 1B National Insurance due under the agreement by 22 October 2026 if you make your payment electronically. However, if…
When a sole trader transfers their business to a limited company, a chargeable gain may arise on the assets transferred. As the connected person rules apply, the gain is calculated by reference to the market value at the date of…
Many people are taking on a side hustle to make ends meet. This can take various forms, such as selling items online, providing services or creating content. You may need to tell HMRC about your income if your trading income…
Mandatory payrolling was due to come into effect from 6 April 2027. However, it has now been announced that the introduction will be phased in, with mandatory payrolling only applying to benefits in kind in phase one from 6 April…
