Informing HMRC about change in details

When I use to live on rent, I use to have a list of people and organisation to inform whenever I moved houses like employer, bank, subscriptions etc.

One of them was HMRC.

We need to inform HMRC in number of scenarios:

Change in personal details

  • Name
  • Address

Change in Income:

Relationship or family changes

  • Like when you get married or divorced.

 

For more details and the process of how to inform HMRC see link below: https://www.gov.uk/tell-hmrc-change-of-details

 

Corporation tax : Two tax return in the first year

Often client are confused when we tell them that we will need to file two tax returns for the first year of the company’s life.

GOV website has explained it lucidly:

https://www.gov.uk/first-company-accounts-and-return

 

 

 

Starting rate of tax for savings income 2015-16

From 6 April 2015 the starting rate of tax for savings income (such as bank or building society interest) will be reduced from 10% to 0% per cent and the maximum amount of taxable savings income that can be eligible for this starting rate will be increased from £2,880 to £5,000

more details:

http://www.ion.icaew.com/TaxFaculty/post/Starting-rate-of-tax-for-savings-income