Tax Tip – Quarter One

person scrolling through an ipad

We’re into the new 2022/23 tax year now, and as paperwork goes in and out, Q1 payments approach due, and everything gets a bit busy, it’s a good time to step back and check your tax code, to make sure that you’re not being over or under-charged tax.

Revised codes are sent out after a tax return has been submitted, but these basically assume that your circumstances have stayed the same. If you don’t think your tax code is correct or includes items that would be better dealt with via self-assessment, you should speak with your financial advisor and contact HMRC to amend the code.

Check that your National Insurance Contributions (NICs) are up to date, as entitlement to state pension and other contributory benefits rely on sufficient NICs being paid – to be entitled to a full single-tier state pension, you need 35 qualifying years, and at least 10 years for a reduced pension.

If you’re not sure what needs to be done to make the most of your finances, and have the 22/23 tax year running smoothly, you should get in touch with our advisors – we can give you expert consultation, advice, and the services you need to make tax less taxing.

Accountants across Yorkshire

Our accountants are based all around the Yorkshire region, although we work remotely with clients nationally. If you are looking for accounting services in Yorkshire, you can find out more here:

Contact Us

Please call or email to arrange your FREE consultation for any of our services.

Meet the Team

We’re a modern, friendly and proactive accountancy service.

team member artwork


Signup for our weekly business newsletter and special offers!

Let's discuss how we can help your business

Our goal is to remove as much time and stress from the accounting and bookkeeping side of your business so that you can focus on what matters more to you.