Post Office payments temporary reprieve
HMRC was due to stop payments of certain benefits, including tax credits and child benefit, into Post Office accounts on 30 November 2021. However, a last-minute reprieve will be welcome news to claimants. What’s going on?
-
Double up on the employment allowance
You’re the sole shareholder of a limited company which employs several members of staff. You’re working on plans to start another business with an ex-colleague. Can both businesses benefit from the full employment allowance (EA)?
-
VAT cut for children's holiday activities over summer
The government has announced a temporary reduction in the rate of VAT applying to certain children's holiday activity programmes during the summer holidays. The measure is intended to help families with childcare costs during the school break. What has changed?
-
Deadline to issue P60s
Recipients of certain benefits that use Post Office card accounts for incoming payments were supposed to provide alternative bank details to HMRC by 30 November 2021, or risk suspension of payments. The affected benefits are:
- tax credits;
- child benefit; and
- guardian allowances.
This was due to expiration of the contract between HMRC and the Post Office. Thankfully, some common sense has prevailed during what is a busy time of year - both for tax compliance and obvious familial reasons. HMRC has now announced that it has agreed a one-off extension with the Post Office until 5 April 2022.
Whilst this is obviously welcome news for affected individuals just prior to Christmas, it is crucial to update these details via the tax account, or by contacting HMRC’s tax credits or child benefit helpline sooner rather than later.
This website uses both its own and third-party cookies to analyze our services and navigation on our website in order to improve its contents (analytical purposes: measure visits and sources of web traffic). The legal basis is the consent of the user, except in the case of basic cookies, which are essential to navigate this website.