HMRC, the UK’s tax authority, recently addressed concerns regarding changes in tax codes and their implications for state pension payments, prompted by inquiries from pensioners. The issue arose when a pensioner, upon becoming eligible for their state pension, noticed a modification in their tax code and expressed apprehension about how this adjustment might affect their … Read more
Taxpayers are being cautioned to double-check their tax codes to prevent potentially overpaying the HM Revenue & Customs (HMRC). An error in your tax code could result in incorrect deductions from your salary or pension, leading to financial strain or unexpected bills. Tax codes, comprised of numbers and letters, are assigned by HMRC based on … Read more
Telegraph Money Breaks Down HMRC’s Requirements and Tips to Avoid Penalties As the January 31, 2024, deadline for the next self-assessment tax return approaches, Telegraph Money provides a comprehensive guide to help individuals tackle HMRC’s requirements and sidestep potential penalties. The guide covers essential information for the 2022-23 tax year, ensuring a smooth submission process. … Read more