The government has given the green light to allow pension providers to create user-friendly services that display pension information for individuals on-line. Savers will be in the driving seat with all the facts and figures about their pensions and potential retirement income at their fingertips…
Month: April 2019
Can\'t pay your tax?
A reminder that HMRC may consider extended options for settling your outstanding tax bill. The key is to contact HMRC, explain why you can’t pay on time, and discuss how you can settle any outstanding liabilities. If you can’t pay before the deadline, call the…
Tax-free property and trading allowances
Since April 2017, you can earn £1,000 from a trading activity and £1,000 of property related income, without being liable to income tax. These tax-free allowances on property and trading income are useful as families can generate an extra £2,000 a year of income without…
What will HMRC avoid telling you?
There are three things that you can count on that HMRC will do: Calculate the amount of tax you owe based on the information they have gathered. Chase you for payment of this tax if not recovered by PAYE. Pursue you if they believe you…