If you are self employed are you paying too much in NI? If your earnings are below £5,595 then you may be entitled to NI exemption.
HMRC have issued a warning about possible fake or ‘phishing’ emails sent out by fraudsters. The period in the run-up to the tax credits renewal deadline often sees an increase in such attacks. Taxpayers have to renew their claims by 31 July 2012 or their payments may stop.
The format of the emails is that they often promise a rebate. If taxpayers click on the link within the email, they are taken to a replica of the HMRC website where they are then asked to provide credit or debit card details or other sensitive information. Fraudsters then try to take money from the account.
Victims are at risk from having money stolen from their bank accounts or their personal details being sold for identify fraud.
According to the HMRC press release:
‘During last year’s tax credits renewals period, from April to July, nearly 94,000 phishing emails were reported by customers. Even though HMRC helped shut down more than 360 scam websites during the period, others continue to be created.’
You might think of your party planning or direct selling income as a bit of pocket money – HMRC think of it as a business !
Do you have a rental properties ? Are you aware of the changes re repairs coming in to affect from April 2013? Act now to make sure you don’t miss out on the tax breaks currently available.
The new VAT registration limit is £77,000 – remember this is based on a 12 month rolling period, don’t get caught out – there are penalties for late registration
Royal Mail are hiking up the price of stamps quite considerably from 30 April this year.
- A first-class stamp will rise in price from 46p to 60p
- A second-class stamp will go up from 36p to 50p
How will this effect you?