Significant changes to high income child benefit charge
[ad_1] Child benefit will be recovered based on household income, the Chancellor has announced. This will challenge HMRC’s limited resources as it will have to collect additional data and change its systems and processes. At Spring Budget 2024, the Chancellor addressed a significant anomaly inherent in how child benefit is recovered through the high income […]
HMRC’s debt levels remain high as interest rates increase
[ad_1] The increase in HMRC interest rates from 22 August 2023 will make it harder for taxpayers to clear these debts. HMRC is seeing more taxpayers getting into debt and the average value of those debts is increasing as the economic situation remains challenging. The majority of tax debt is owed by small and medium-sized […]