UHY Ross Brooke Chartered Accountants
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
All too often HMRC will point to a minor point of law, which seems to fly in the face of common sense, in order to penalise the poor taxpayer. Consequently, it was with a wry smile that I read a recent tribunal case where HMRC got a dose of their
Apparently there are still 500,000 Self-Assessment Returns outstanding for 2012/2013 (due to be filed by 31 January 2014). Including £10 daily penalties, at potentially £1,000 a Return that is a staggering £500 Million in penalties due to the Exchequer for 2012/13 alone. Unless there is a reasonable excuse for the