Posted in the Self Employed Income Category

Announcements

VAT for Quarter Ending 28th February (or 29th for a leap year)

If your last VAT quarter ends on 28th February (or 29th for a leap year) the filing deadline is 31st March and payment is due by 7th April.

March Payroll and RTI

File your monthly RTI reports for March payroll by 5th April and pay HMRC by 19th April.

Increases in income tax

The tax payable on dividends is set to rise from 7.5% to 8.75% for basic rate taxpayers from 6.4.22. Higher rate taxpayers will pay 33.75% on dividends and additional rate taxpayers must budget for dividend tax of 39.35%. These rates will apply to all dividends taken from all companies where the total dividend income exceeds the dividend allowance which has been held at £2,000 for 2022-23.

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