Let's be honest. Filing a tax return is nobody's idea of a great summer activity. That's probably why so many people shove it to the bottom of the to-do list, promise themselves they'll "sort it next month" and then find January looming with an uncomfortable sense of déjà vu. But what if this was the year you got ahead of the game?
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Nobody likes an unexpected message from HMRC. Whether it's a letter through the door or an email dropping into your inbox, it's enough to make any business owner wonder, "What's this about?" And with HMRC using more data and better technology to spot errors and inconsistencies, those conversations are becoming more common.
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The end of the tax year on the 5 April has a habit of sneaking up on you! The good news is that a little bit of planning now might be able to save you money.
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After years of delays, Making Tax Digital for Income Tax (MTD for ITSA) is finally happening. If you're a sole trader or landlord, it's time to sit up and take notice.
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Christmas is just around the corner - and not far beyond is the deadline for filing your self-assessment tax return.
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The Chancellor has delivered the Autumn Budget, finally providing some clarity for individuals and businesses following weeks of speculation in the media. Interpreting the announcements from a Budget can be a bit daunting, but you don’t have to wade through all the detail. In this feature, we’ve picked out the key headlines and explained them in a simple, straightforward way - so you can feel confident about what lies ahead for you and your business.
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With the UK Budget just around the corner, many business owners and individuals are keeping a close eye on what might be announced. It can be tempting to speculate, but whatever the Chancellor brings forward, you can count on us to help you make sense of it.
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It’s early summer – we’re into the new tax year. Most people won’t have started thinking about their personal tax return yet. But, did you know that if you get your return in before 31 July and your liability is lower than it was last year (and assuming you haven’t elected to reduce your payments already), the amount you owe on 31 July as a payment on account will automatically reduce as a result?
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If you haven’t received a letter from HMRC already, you’ll be receiving one very soon.
The starting date of Making Tax Digital for Income Tax (MTD) is less than a year away and with its additional administration and cost for the taxpayer, it is the single biggest change to the taxpayers’ reporting obligations since the introduction of self-assessment. Preparation is key… and we can help!
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Christmas is just around the corner. And – just beyond – is the deadline for filing your 2023-24 self-assessment tax return.
It must be with HMRC by 31 January 2025, but if you haven’t got round to completing it yet, or are concerned about a large liability – don’t worry! You are not alone, and we might be able to help. We might even be able to reduce your liability with some tax planning suggestions.
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