From 1 April 2025, the national minimum wage (NMW) for adults 21 and over will increase to £12.21. For many low paid workers, this may help with the increased cost of living. However for others, the pay rise may be less than expected, due to various interactions. Here we set out a few of the key ...
Tax credits are being replaced by universal credit. Most existing tax credit claimants have now moved to universal credit or pension credit. In line with previously announced plans, there will be no more tax credit awards after 5 April 2025. If you are still receiving tax credits, you may need to ...
About half of all employees might have been eligible for a tax refund for 2020/21 because of working from home during the coronavirus pandemic. If you were required to work from home during this time, and were not reimbursed for your expenses by your employer, there are two things to know: 1) The ...
If you have gaps in your National Insurance record, it can make a big difference to the amount of state pension you receive – whether you are already claiming it, or it’s still a long way in the future. For a limited time, certain people are able to pay voluntary contributions to fill gaps in their ...
HM Revenue & Customs (HMRC) are sending out letters to people that they think have earned income from online marketplace sales before 5 April 2023, but who have not declared this income to HMRC yet. We explain more about these letters, and what to do if you receive one.
There is a lot of confusion around how to get a P85 tax refund. Do HMRC make bank transfers for these refunds? Can HMRC send them overseas? If you have come from overseas to work in the UK on a short-term or seasonal basis, you may be wondering how you can get any P85 tax refund you are due when ...