self assessment Archives - Newby Castleman

15th July 202515th July 2025

Self Assessment – 31 July payment on account deadline

< 1 minute to readThe second payment on account for the 2024/2025 tax year is due for payment by 31 July 2025. Payments on account may be due if your tax and Class 4 National Insurance bill for 2023/24 was £1,000 or more. Each payment on account is 50% of your 2023/24 tax and Class 4 National Insurance liability. …

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9th July 202515th July 2025

Tax compliance – is it your responsibility?

2 minutes to readIn a recent case brought to the tribunal, a taxpayer, Mr Hammant, was liable for penalties of £1,200 despite no tax being owed to HMRC. Mr Hammant filed his Self Assessment tax return online however the submission had not completed correctly which he did not discover until over a year later. He was signed up …

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31st March 202515th July 2025

Updated timing: Payrolling benefits in kind now 6 April 2027

2 minutes to readIn their spring newsfeed, HMRC has announced that the date for the mandatory reporting of Income Tax and Class 1A NICs for most benefits in kind and taxable expenses has been put back a year – to 6 April 2027 These changes will mean that the tax on employees’ taxable benefits will be deducted directly …

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14th August 202415th July 2025

Do you receive savings interest?

2 minutes to readWith interest rates at a historic high over the last year, savers should check their bank or building society interest income for 2023/24. Some people are now falling into the Self Assessment tax return bracket due to the extra interest savings accounts have been paying. You may pay tax on a salary through Pay As …

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