How to Set Up an HMRC Payment Plan for Self-Assessment Income Tax
January 26, 2024
As the deadline for 2022/23 self-assessment tax returns and payments draws closer, you must take pre-emptive action if you cannot pay your obligations on time. HMRC normally issues a reminder letter initially if your tax return or payment is not received by 31st January.Howe...
Our Expert Guide to Completing and Submitting a P11D
April 24, 2023
P11D forms are used to report benefits provided to employees outside of wages that constitute a benefit in kind – think a mobile phone for personal use, an interest-free loan, or health insurance.Employers are required to report any benefits paid during the tax year and ca...
In our latest round-up of HMRC tax audits and investigations, landlords have been under the spotlight, with the tax office examining data to try and identify potential instances of under-declared income or capital gains.
HMRC has been leveraging access to data and records ov...
HMRC Targets Taxi Drivers in Latest Tax Investigation
September 15, 2022
It's no secret that HMRC has been clamping down on income tax declarations and late payments to recoup the huge amounts of government spending over the last few years.
We reported way back in December 2010 that HMRC was back in action, refocusing on recovering unpaid taxes a...
The Countdown to MTD for VAT: Are You Ready?
January 14, 2022
While Making Tax Digital (MTD) has been postponed for income tax submissions, the 1st April 2022 deadline still applies for businesses registered for VAT.
The change means that even businesses with turnover beneath the registration point (£85,000) need to file according to ...
While the gradual reopening of business sectors is great news overall, many companies have deferred VAT liabilities. They are now considering how they will get back on top of their finances when regular trading resumes.
There are two options available, applicable to VAT defe...
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