Fewer HICBC penalties – a sign of success, or a reminder to stay compliant?
Recent data from HM Revenue & Customs (HMRC) shows a dramatic fall in penalties issued under the High Income Child Benefit Charge (HICBC) – from over 13,500 in 2018/19 to just 46 in 2024/25.
Have you paid the right amount of High Income Child Benefit Charge for 2022/23?
You may have recently received correspondence from HM Revenue & Customs (HMRC) asking you to check if you need to pay the High Income Child Benefit Charge and to double-check the amount if you have already paid.
How the personal allowance works
Understanding your income tax and personal allowance is important when looking at your finances and how you are taxed.
1.1 million customers get first energy support payments
As the cost of living crisis continues to bite, more than a million families will be receiving help from the first week of September.
First cost of living payment received by millions
Payments to support those struggling with the cost of living are starting to be paid into eight million people’s accounts from today.
Pay boost for millions as National Insurance threshold rises
Further changes to National Insurance Contributions (NIC) kick in from July this year and will be a welcome boost for most taxpayers who suffered an increase in April.
Tax planning for 2022 – what you need to know
No one wants to pay more tax than they are required to and yet every year hundreds of thousands of taxpayers miss out on opportunities to reduce their tax bill.
How can you cope with the cost-of-living crisis?
Many are feeling the impact of the increasing cost of living on their finances, with the inflation rate soaring to a 30 year high of 6.2 per cent in February.
Student loans: what is changing for graduates in April
Currently, the threshold for undergraduate loan repayments stands at £27,295 per year and will remain at this level from April 2022. As for post-graduate loans, the earning threshold will also remain the same, which is £21,000 per year.
HMRC scam calls have decreased by 97 per cent
Scammers posing as HM Revenues and Customs (HMRC) were rife in March 2021, with a staggering 79,477 calls reported.