Dividend tax increase from 6 April 2022
![](https://oxonaccountancy.co.uk/wp-content/uploads/2022/04/d8367b29-7734-4f5a-bd15-4388911ad859.jpg)
A reminder that the 1.25% increase in NIC contributions that came into effect on 6 April 2022 are reflected in a similar increase in the tax charge on dividends.
This means that the dividend tax
Planning for Basis Period reform
![](https://oxonaccountancy.co.uk/wp-content/uploads/2022/04/c65d9fb2-07b7-4c20-9372-538f34a7ba1d.jpg)
The basis period reforms will change the way trading income is allocated to tax years. The reforms will change the basis period from a ‘current year basis’ to a ‘tax year basis’. Under the current
Check your Income Tax for current year
![](https://oxonaccountancy.co.uk/wp-content/uploads/2022/04/eaa7be17-f2d6-4d80-a4c7-6ebdf1100b3b.jpg)
HMRC offers taxpayers the ability to check their Income Tax for the current tax year. The online portal has been updated for the new 2022-23 tax year from 6 April 2022 to 5 April 2023. The service is
Do you need to submit a Self-Assessment return for 2021-22?
![](https://oxonaccountancy.co.uk/wp-content/uploads/2022/04/6f26403e-b511-4c29-91de-4075eb0f2f36.jpg)
There are a number of reasons why you might need to complete a Self-Assessment return. This includes if you are self-employed, a company director, have an annual income over £100,000 and / or have
Will you need to repay child benefits?
![](https://oxonaccountancy.co.uk/wp-content/uploads/2022/04/217c9d2b-b130-439a-a84a-1bab87a8db1e.jpg)
The High Income Child Benefit charge applies to taxpayers whose income exceeds £50,000 in a tax year and who are in receipt of child benefit. The charge claws back the financial benefit of receiving
Limits to loss relief claims against income or capital gains
![](https://oxonaccountancy.co.uk/wp-content/uploads/2022/03/c25e1948-db7d-4896-b88c-a843b9138792.jpg)
There are a number of tax reliefs available for self-employed taxpayers that make a trading loss. This includes a partners’ share of partnership trading losses.
There may also be restrictions if the
Claiming for business use of own car or van
![](https://oxonaccountancy.co.uk/wp-content/uploads/2022/03/ae72225b-1900-44c4-95f8-61e7773e1a0b.jpg)
If you are an employee, you may be able to claim tax relief for using your own vehicle, be it a car, van, motorcycle or bike. There is generally no tax relief for travel to and from your place of
Spreading the cost of tax bills
![](https://oxonaccountancy.co.uk/wp-content/uploads/2022/02/fb0d71c8-6410-4088-b267-45fef97f77ca.jpg)
One of the announcements by HMRC at the start of the coronavirus pandemic was the introduction of emergency measures to help those affected by COVID-19 using the existing Time to Pay service. Many
Don’t miss out on this tax allowance
![](https://oxonaccountancy.co.uk/wp-content/uploads/2022/02/38248c2a-22f2-429c-ac8d-11bf088577bf.jpg)
HMRC is using Valentine’s Day to issue a reminder to married couples and those in civil partnerships to sign up for the marriage allowance – if they are eligible and haven’t yet done so.
The marriage
Paying tax underpayments via tax code
![](https://oxonaccountancy.co.uk/wp-content/uploads/2022/02/8165b503-8e28-4e01-b461-ac42fe65e6af.jpg)
One of the less well-known ways of paying your Self-Assessment tax bill is to do so through your tax code.
This can only be done where all the following apply:
you owe a Self-Assessment balancing