Chancellor Rishi Sunak delivered his Spring Statement today, Wednesday 23 March 2022. Below is a brief summary of the main points:
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Chancellor Rishi Sunak delivered his Spring Statement today, Wednesday 23 March 2022. Below is a brief summary of the main points:
As the new tax year (2022/2023) draws close, here is our reminder of the proposed income tax rates and allowances for Scottish taxpayers as announced in the Scottish Budget on 9 December 2021 by Scottish Finance Secretary, Kate Forbes.
For taxpayers whose affairs are within the self-assessment tax regime, there are two very important dates for settling tax liabilities. These are 31 January and 31 July.
The official deadline for filing a Self Assessment tax return for 2020-2021 without incurring a late filing penalty is 31 January 2022. However, for the second year running, HM Revenue & Customs (HMRC) is waiving late filing and late payment penalties for Self Assessment taxpayers for one month – giving them extra time, if required to complete their 2021 tax return and pay any tax due.
If the prospect of completing your annual Self Assessment tax return fills you with dread, causing you to put off the inevitable until it becomes a race to avoid an automatic Late Filing Penalty, you are not alone.