Tag: Tax

HMRC’s late payment interest rate rise

HMRC’s late payment interest rate rise

HMRC’s late payment interest rate has gone up by another quarter percent, and now stands at 3.75%. Late payment interest encourages prompt payment, ensuring fairness for those paying on time. The rate for overpayments remains at 0.5%. >Read more: changes […]

18 Point Tax Year End Checklist

Before the current tax year ends, it’s worthwhile asking yourself ‘have I utilised all tax allowances and exemptions available to me, my family, and/or business?’. To help you we’ve outlined 18 opportunities that may be available for personal and for […]

Key highlights from the Spring 2021 Budget

We’d like to give you a short summary of the budget highlight key areas of interest. For more in-depth analysis of the Spring budget full and guidance from out tax expert Wendy McBride visit our Spring 2021 Budget Update BUDGET […]

Spring 2021 Budget Update

Following on from the UK Government’s Spring Budget on 3 March we have summarised the information you need. We’ve listed the budget highlights below and added further details on personal and business taxation plus additional business and funding support that […]

Ammu’s overview of the Spring Budget

Introduction On some counts this Budget was Rishi Sunak’s 15th major announcement since his first Budget, just under a year ago. During this period, the pandemic has dominated the Chancellor’s actions and this was true of his latest Budget. To […]

HMRC temporarily waives 5% late penalty fee

HMRC is giving more time to pay or to set up a payment plan for Self-Assessment because of the impact of COVID-19. Consequently, Self-assessment taxpayers will not be charged a 5% late payment penalty if they pay their tax or set […]

Cycle to work scheme 

The Cycle to Work Scheme is a salary sacrifice scheme that’s part of the UK Government plan to improve the environment, cut road congestion and improve the health of the nation. However, employees and employers who signed up for the […]

VAT reverse charge from March

The VAT domestic reverse charge will finally apply to most supplies of building and construction services from 1 March 2021. The rules, whose implementation has been postponed twice, cover standard and reduced rate VAT supplies between VAT-registered sub-contractors and contractors […]

Taxing wealth – a viable option?

As we look ahead to the Budget on March 3 – a full update will be published on ammu.uk shortly after the Chancellor’s statement – it is worth looking at some of the issues that may well be under consideration. […]

Some financial lessons from the last year

The last year has been a traumatic one in which much has changed, perhaps never to revert to the old ‘normal’. It has also provided some useful financial lessons. Make sure you have an up-to-date will – Early on in […]

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