HMRC hiccups

Spare a thought for accountants and their clients this weekend, and anyone who’s wrapping up personal tax returns in the final month before the deadline of 31 January – the HMRC online access has been “down” since at least Thursday, and submissions are waiting in a draft limbo. Here’s hoping it’ll be up and running again soon, HMRC are diligently working on it. Maybe we’ve broken  the system, leaving too many submissions to the last minute! 🙂

*makes note to chase clients for details even earlier next year*

Paying your Income Tax Bill

HMRC will no longer accept payments by personal credit card after 12 January 2018.

The reason of the change is that from 13 January, the EU Payment Services Directive 2 prohibits merchants (including HMRC) from recharging associated fees back to customers. HMRC will not absorb the cost of credit card fees as this would be a cost to the public purse.

Payments by debit card or corporate credit card will continue to be accepted.

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Budget Nov 2017 summary

Autumn Budget 2017: What measures did the chancellor announce?

Philip Hammond promised “a balanced Budget”, one that would maintain fiscal responsibility but help families cope with the cost of living. What measures did he announce to achieve his Budget aim?

Philip Hammond promised “a balanced Budget”, one that would maintain fiscal responsibility but help families cope with the cost of living. What measures did he announce to achieve his Budget aim?

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Government Gateway – why you need one and how to get it

Hello taxpayers!

This is the face of your future communication with HMRC on any kind of tax. They would like us all to communicate online, via a GOVERNMENT GATEWAY NUMBER.

From there you can set up an online account called a Personal Tax Account, so you can access at any time your tax position.

You can also use it to register for self-employment, including the range of taxes that may then be applicable. You can monitor these taxes through your Business Tax Account, including making your regular payments.

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Self Employed National Insurance – info for 2019/2020

NEWS on the application of National Insurance rates from Accounting Web:

Classes 2 and 4 NIC were to be merged from 6 April 2018, with class 2 NIC abolished from that date. This merger will now take place from 6 April 2019.

Delay

In a written statement to the House of Commons released late yesterday, it was announced that the abolition of class 2 national insurance contributions (NIC) would be delayed by one year to 6 April 2019. This delay was justified by a need to consult more fully with interested parties in respect of the effect of the abolition of class 2 NIC on lower earners.

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National Insurance – check your state pension

NATIONAL INSURANCE PAYMENTS are part of all taxpayers’ lives. As they’re currently under governmental review in some areas, let’s look at some of the overall information from the HMRC website.

Use this service to find out:

  • how much State Pension you could get (this amount is also known as your State Pension forecast)
  • when you can get it
  • how to increase it, if you can

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National Insurance – check your NIC record

NATIONAL INSURANCE PAYMENTS are part of all taxpayers’ lives. As they’re currently under governmental review in some areas, let’s look at some of the overall information from the HMRC website.

Check your National Insurance record

You can check your National Insurance record online to see:

  • what you’ve paid, up to the start of the current tax year (6 April 2017)
  • any National Insurance credits you’ve received
  • if gaps in contributions or credits mean some years don’t count towards your State Pension (they aren’t ‘qualifying years’)
  • if you can pay voluntary contributions to fill any gaps and how much this will cost

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National Insurance – current rates and how to pay

NATIONAL INSURANCE PAYMENTS are part of all taxpayers’ lives. As they’re currently under governmental review in some areas, let’s look at some of the overall information from the HMRC website.

How much you pay

The amount of National Insurance you pay depends on your employment status and how much you earn.

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National Insurance – the classes

NATIONAL INSURANCE PAYMENTS are part of all taxpayers’ lives. As they’re currently under governmental review in some areas, let’s look at some of the overall information from the HMRC website.

National Insurance classes

The class you pay depends on your employment status and how much you earn, and whether you have any gaps in your National Insurance record.

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National Insurance – an overview

NATIONAL INSURANCE PAYMENTS are part of all taxpayers’ lives. As they’re currently under governmental review in some areas, let’s look at some of the overall information from the HMRC website.

Overview

You pay National Insurance contributions to qualify for certain benefits and the State Pension.

You pay National Insurance if you’re 16 or over and either:

  • an employee earning above £157 a week
  • self-employed and making a profit of £6,025 or more a year

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