UHY Ross Brooke Chartered Accountants
If you do then you are probably aware of the requirement to disclose this on your Self-Assessment tax return. It is important to record any side income accurately and HMRC is going to be able to see exactly how much income you receive when using a digital platform from 1
The Economic Crime and Corporate Transparency Act received royal assent on 26 October 2023 and will introduce a number of changes over the next few years. The act gives Companies House the power to play a more significant role in tackling economic crime and supporting economic growth. Over time, the
According to statistics released by HMRC almost 2 million over 65’s now need to file an annual self assessment return. And as many pensioners rely upon their investments for part of their income, this number will almost certainly rise over the forthcoming tax years as a result of the reductions
With the deadline for filing your 2021/2022 tax return looming, here are our top tips to help you complete it in time. Self-assessment deadline 2021/2022 Although the deadline is 31st January 2023, don’t leave it to the last minute to start, in case the HMRC website crashes or you need
HMRC is urging their Self Assessment customers to be vigilant of fraudsters and scams asking for personal information or bank details. Self Assessment customers, who are starting to think about their annual tax returns for the 2021 to 2022 tax year, should guard against being targeted by fraudsters, warns HMRC.
by Phil Kinzett-Evans HMRC is raising the interest rate it charges on overdue tax bills from 2.75% to 3%, six times the 0.5% that it pays on repayments of overpaid tax, however, HMRC is not increasing the interest that it pays to taxpayers that might have been overcharged tax. Interest
Self-assessment deadline 2020/2021 Remember to file your tax return for tax year 2020/21 by 31st January 2022, but don’t leave it til the last minute to prepare or submit it! If you were hoping to send a paper return, you’ve missed the October 2021 deadline, so will need to complete
Finance Act 2021 introduced a new regime for late VAT returns that will apply to VAT periods commencing on or after 1 April 2022 and to other returns at a later date. HMRC have now published detailed guidance on the new rules. The reforms come into effect: for VAT taxpayers
Financially, January is always a difficult month. Most employees get paid early and the increased Christmas expense drains the coffers, with many people wishing for January to pass so that a new pay date is hit and the financial pressure is eased. It is typically unhelpful, therefore, that the Self-Assessment
If you have been asked to complete a self-assessment return for 2015/16 then you have until the end of January to submit the form online to HMRC. If the return does not reach HMRC in time then there will be an automatic penalty of £100 even if there is no