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...
Guide to Making Self-Assessment Income Tax Payments on Account
November 30, 2023
If you’re self-employed or work as a sole trader, you might have just received your HMRC income tax statement, showing a final payment due on 31st January for the 2022/23 tax year and your first payment on account, due on the same date, for 2023/24.Payments on account are ...
Self-Assessment Taxpayers Are Reminded to Submit 2022/2023 Paperwork and Records to SAS Accounting in Good Time
November 2, 2023
As we approach the winter period, many clients report increasingly busy trading environments as so many sectors gear up for the festive season and make preparations for holiday closures and heavy demand during the next few weeks.While there are often many priorities over the...
Basis Period Reforms Explained: All You Need to Know About Changes to Accounting Periods for Tax Declarations
October 23, 2023
From the 2023/24 tax year, HMRC has introduced changes to the reporting period requirements for partnerships and self-employed taxpayers. Your 'basis period' is the 12 months over which you prepare your accounts and submit details of your income and taxable profits to the ta...
HMRC Set to Challenge the Self-Employed Status of Associate Dentists
February 15, 2023
Over the last few months, we've reported several sectors falling under HMRC scrutiny. The next target looks to be associate dentists, causing potential disruption for practices and professional clinics.Conventionally, HMRC considers associate dentists self-employed, although...
Preparing for the 2023 Financial Year Ahead
January 17, 2023
As we settle back into our routines following the festive break, there are several key factors that businesses need to be aware of and prepared for in 2023.While we detailed the headline announcements from the Autumn budget back in November, there have been further announcem...
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...
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