Ammu Accounting, Author at ammu : Page 13 of 13

Winding-up petitions on the rise in HMRC squeeze

HMRC’s use of winding-up petitions to actively chase the money it is owed comes at the worst possible time as many companies struggle to cope with inflationary pressures,

Bereavement benefits extended to unmarried couples

The eligibility for some bereavement payments has now been extended to unmarried couples, but there are two major caveats.

Pay attention to tax codes

The easiest way a person can check and correct a tax code is by logging onto their personal tax account using their Government Gateway user ID and password.

HMRC sets its sights on hidden electronic sales

Any software designed to facilitate the under reporting of sales is essentially a tax evasion tool and should always be avoided.

Annual inflation in 2022 was 10.5%, but not all components rose by double digits. Annual inflation, as measured by the Consumer Prices Index (CPI), was 10.5% in 2022 against 5.4% in 2021. The official CPI calculator, the Office for National […]

Company cars: not-so-free fuel

If your employer pays for the fuel in your company car, it may cost you more than you expected.

High-Income Child Benefit Charge: penalties and defaults

New data reveals that penalties issued by HMRC for not paying the High-Income Child Benefit Charge (HICBC), or paying the incorrect amount, have fallen significantly.

Making Tax Digital delayed once more

With the self-employed and landlords facing a challenging economic environment, the government has again delayed the introduction of the Making Tax Digital (MTD) scheme for income tax self-assessment (ITSA) – this time by two years until April 2026. Although the […]

Author: Ammu Accounting