Voluntary Class 2 NIC wrongly refunded
If you made voluntary Class 2 national insurance contributions (NIC) for the 2022- 23 tax year, check whether this payment has been refunded in error by HMRC. Some self-employed taxpayers who made voluntary Class 2 payments by 31 January 2024 may have an unexpected...
Consider restarting child benefit
The clawback threshold for the high-income child benefit charge (HICBC) was increased to £60,000 from 6 April 2024. If you are entitled to child benefit and you or your higher-earning partner’s adjusted net income (ANI) is above £60,000 it is possible that you...
Cryptoasset investors urged to declare gains
HMRC has reminded investors in cryptoassets that they should declare any income or gains above the tax-free allowance on a tax return.
Student loans and basis period reform
New guidance from HMRC confirms that profits used to assess student loan repayments and entitlement to student finance will include transitional profits from basis period reform.
Subpostmasters’ compensation
There are currently three forms of compensation being awarded to subpostmasters following the Horizon scandal and each will have different tax implications.