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Self-employed and landlords could be forced to pay tax bills monthly as Labour and HMRC mull radical regime change
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NEWSDECK ANALYSIS
The current tax system for self-employed individuals and landlords typically requires them to make payments on account towards their tax bills, with the full amount due by the end of the tax year. This proposed change could significantly impact the cash flow and financial planning of those affected, as they would need to make regular payments throughout the year. The potential shift to monthly tax payments would likely require significant adjustments to the existing tax collection infrastructure and processes at HMRC.
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Daily Mail
Self-employed and landlords could be forced to pay tax bills monthly as Labour and HMRC mull radical regime change
Labour is consulting with HM Revenue and Customs (HMRC) over plans to get the self-employed and landlords paying tax monthly on income they have not yet earned.
14 Jul, 09:56