HMRC launches PAYE code tool
HMRC has launched a new online tool to help you understand your PAYE code. What is it and how can you use it?
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Directors to face identity checks under Companies House reforms
Companies House has published further guidance on the introduction of mandatory identity verification for company directors and other individuals involved in company filings. The change forms part of the reforms introduced by the Economic Crime and Corporate Transparency Act 2023. What do you need to know?
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Review how much VAT charged on sales?
A recent Tribunal case ruled that HMRC’s logic was flawed in dealing with a “what is the supply” challenge. Does this mean you should check that you are charging VAT correctly on your sales if there could be doubt about what you are selling?
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Are buy-to-let companies worth the hype?
There’s no doubt that landlords have been on the receiving end of multiple tax hikes in recent years. So called “property experts” will tell you that the best tax-saving strategy is to operate through a company. Are they right?
Your tax code is what your employer or pension provider uses to deduct tax from your payments. When changes are required, you are sent a P2 coding notice showing how the code is worked out. The notice can be confusing, and cause worry. HMRC has launched a new online tool to help you. You need a few details to use it, namely your:
- tax code
- annual income, before any deductions
- company benefits details (if any)
- State Pension amount (if any).
In some circumstances, you may find you need to change your code, and the tool directs you to the relevant service to do this.
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