HMRC tax calculator causing thousands of pounds worth of errors “Tax calculators lag behind rule changes, but HMRC penalties do not.” Quotation by Nigel Holland. Please enable JavaScript in your browser to complete this form.Please enable JavaScript in...
HMRC tax calculator errors could cost self-assessors thousands Bookkeeping Support Business Planning Collection of Records Company Secretarial Services Capital Gains Tax - 60 Day Reporting HMRC Compliance Checks HMRC Enquiry Protection HR Services & Employment...
Nigel Holland founder of Holland & Co Chartered Accountants “Families across the UK are facing a growing tax burden as frozen income thresholds steadily increase the reach of the High Income Child Benefit Charge. HMRC forecasts show that by 2028/29 an additional...
HMRC has confirmed that more than 1.32 million people received underpayment notices for the 2023/24 tax year. These demands, issued under the Simple Assessment system, are becoming increasingly common and increasingly expensive. The average underpayment is now £920,...
Families and middle-income earners are facing a growing real-terms tax burden as the Government’s freeze on income tax thresholds—now extended to 2031—continues to bite. Analysis by the Centre for Policy Studies shows that this so-called “fiscal drag” will cost many...
Nigel Holland BA (Hons) FCA “Millions of newly self-employed individuals are being caught off guard by the UK’s payments on account system, which can result in a January tax demand of up to 150 per cent of their previous year’s bill. Under self-assessment, taxpayers...
Second Budget tax rises The Second Budget Was Even Worse Than First Appeared Initial analysis of the Chancellor’s second Budget suggested that its more controversial measures had already been identified. However, closer examination of the detail has revealed an...
Quote by Nigel Holland. “Older homeowners may face care home fees that could involve selling their property, but several protections exist. Your home is excluded from assessment if a spouse, partner, or elderly relative lives there, or if you receive care at...
Quote by Nigel Holland. “Chancellor Rachel Reeves plans to focus the Autumn Budget on taxing wealth and assets rather than income. This is worrying. She ruled out a new wealth tax but highlighted measures such as VAT on private school fees, ending non-dom...
Is it still worth saving into a pension if tax relief changes? Q: How does pension tax relief work now?Pension tax relief refunds the income tax you’d otherwise pay on your contributions, making saving for retirement cheaper. Investments grow tax-free, and 25% of your...
