Check what your tax code means with HMRC’s online tool

HMRC has released a new online tool to help taxpayers understand what their tax code means. Tax codes are used by HMRC to tell an employer how much income tax to withhold through the PAYE system. A person’s tax code may change based on their personal circumstances. If it does, HMRC will inform the taxpayers […]

Check your national insurance record before 5 April 2023

ICAEW urges those planning to claim the UK state pension to check their national insurance (NI) record before 5 April 2023. Currently, voluntary contributions can be made to plug gaps back to April 2006, but this will be curtailed from April. The Tax Faculty has created a checklist of actions. National insurance contributions are typically […]

Corporates holding UK property prompted to check ATED

HMRC has sent letters to companies asking them to check whether the valuations they have used to determine annual tax on enveloped dwellings (ATED) liabilities since 2018 are correct. ATED is payable in situations where a company (or certain other types of entity) hold UK residential property, and none of the various reliefs apply. The […]