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Dividend tax increase from 6 April 2022
- April 21, 2022
- Posted by: mardenco
- Category: Income Tax
No CommentsA reminder that the 1.25% increase in NIC contributions that came into effect on 6 April 2022 are reflected in a similar increase in the tax charge on dividends.
This means that the dividend tax
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Planning for Basis Period reform
- April 21, 2022
- Posted by: mardenco
- Category: Income Tax
The basis period reforms will change the way trading income is allocated to tax years. The reforms will change the basis period from a ‘current year basis’ to a ‘tax year basis’. Under the current
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Check your Income Tax for current year
- April 14, 2022
- Posted by: mardenco
- Category: Income Tax
HMRC offers taxpayers the ability to check their Income Tax for the current tax year. The online portal has been updated for the new 2022-23 tax year from 6 April 2022 to 5 April 2023. The service is
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Do you need to submit a Self-Assessment return for 2021-22?
- April 7, 2022
- Posted by: mardenco
- Category: Income Tax
There are a number of reasons why you might need to complete a Self-Assessment return. This includes if you are self-employed, a company director, have an annual income over £100,000 and / or have
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Will you need to repay child benefits?
- April 7, 2022
- Posted by: mardenco
- Category: Income Tax
The High Income Child Benefit charge applies to taxpayers whose income exceeds £50,000 in a tax year and who are in receipt of child benefit. The charge claws back the financial benefit of receiving
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Limits to loss relief claims against income or capital gains
- March 10, 2022
- Posted by: mardenco
- Category: Income Tax
There are a number of tax reliefs available for self-employed taxpayers that make a trading loss. This includes a partners’ share of partnership trading losses.
There may also be restrictions if the
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Claiming for business use of own car or van
- March 3, 2022
- Posted by: mardenco
- Category: Income Tax
If you are an employee, you may be able to claim tax relief for using your own vehicle, be it a car, van, motorcycle or bike. There is generally no tax relief for travel to and from your place of
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What is a tax calculation?
- November 25, 2021
- Posted by: mardenco
- Category: Income Tax
A tax calculation is created by HMRC if you have not paid the right amount of tax. HMRC’s annual reconciliation of PAYE for the tax year 2020-21 is now almost complete. HMRC use salary and pension
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Self-Assessment countdown
- November 18, 2021
- Posted by: mardenco
- Category: Income Tax
There are now less than 75 days to file your 2020-21 Self-Assessment tax return. Last year over 12.5 million taxpayers were required to complete a Self-Assessment tax return but over 1.8 million
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Autumn Budget 2021 – Dividend tax rates
- October 28, 2021
- Posted by: mardenco
- Category: Income Tax
As announced on 7 September 2021, the 1.25% increase in NIC contributions from April 2022 will be mirrored by a similar increase in the tax charge on dividends. From April 2022, the dividend tax