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Weekly amounts of child / working tax credits and child benefit.
Child Benefit is receivable by a person responsible for each child who is under 16, or 19 if they stay in education or training.
If the person (or their spouse or partner) has 'adjusted net income' above £60,000 the person with the highest income has to pay some of the Child Benefit as a tax charge.
Where 'adjusted net income' is more than £80,000 a year, the tax charge equals the Child Benefit received.
HMRC's pilot scheme for Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is now live.
07 May 2024
One in ten highly skilled freelancers are currently out of work due to the impact of reforms to IR35 tax legislation.
The government is being urged to implement reforms to the Research and Development (R&D) tax relief system in order to avoid hurting small companies by the Suffolk Chamber of Commerce.