Your Tax Agent Update
posted 16th June 2022
Increase in National Insurance thresholds
- There is an increase in NI thresholds for 2022/23 tax year
- This takes effect from 6 July 2022
- This means you pay NIC on less of your income
- This is equivalent to £12,570 pa (increase from £9,880)
- Self employed not required to pay Class 2 NIC on up to £11,908 lower profits limit
Are you liable for the new Plastic Packaging Tax?
- New Plastic Packaging Tax came into force on 1 April 2022
- Need to register if you manufacture or import plastic packaging into UK
- If liable, must submit tax return by 30 June 2022
- Must keep records and evidence to support tax return
Non-UK resident companies receiving UK property income
- Non-resident company landlords are required to file accounts and CT600 online
Improvements to Corporation Tax letters
- CT603 (notice to file a return) and CT208 (reminders to make payment)
- These will no longer include a payslip from June 2022
- Tax payers are asked to use e-payment methods
MOTHERN ACCOUNTANTS
Experience cost effective and dedicated professional accounting service:
Self Assessments, Company Accounts, VAT, CGT, Tax Credits, Payroll etc
Please contact us for any enquiry:
+447817836905
services@mothernsolutions.co.uk
www.mothernsolutions.co.uk
Wentworth House, 81-83 High Street North,
Dunstable LU6 1JJ
