125,000 families take up tax-free childcare

The number of families using tax-free childcare has more than doubled since this time last year, but around 1.4 million households could be missing out on the scheme. Recent HMRC statistics show that 125,000 families used tax-free childcare in March 2019. The figure...

Over-55s withdraw £25.62bn from pensions

The number of people accessing part, or all, of their pension savings from the age of 55 shows no signs of slowing down any time soon. Admittedly government records have only been documented since April 2015, when pension freedoms gave over-55s more options when...

Reclaiming overpaid tax: could you be due a rebate?

Most people on a payroll don't need to give too much thought to the tax that's automatically deducted from their pay. Even if you file self-assessment, there's little to dwell on once your return is out of the way and you've paid the tax HMRC has calculated. That...

Welsh taxpayers charged Scottish tax rates

Workers in Wales have been accidentally charged Scottish rates of income tax, after a mix-up involving tax codes. Welsh rates of income tax were introduced on 6 April 2019, requiring employers in Wales to use a ‘C' tax code to apply the rates. However, HMRC reported...