Your Tax Agent Update

Your Tax Agent Update

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


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Dunstable LU6 1JJ