31st October 2018 Tax Deadline
The first tax return deadline for 2018 returns is approaching… 31st October 2018. Although this deadline is for people submitting a paper tax return, it is a good deadline for everyone to use. HMRC print the statements of account after
Class 2 National Insurance to remain
At present, there are two different types of National Insurance for the self-employed, Class 2 and Class 4. Class 2 is a fixed weekly amount, whereas Class 4 is charged based on profits. We had been expecting Class 2 National
Deadline to register for a 2018 tax return
If you have income to report to HMRC for the tax year ending 5th April 2018, the deadline to register to complete a 2018 tax return is fast approaching. You must notify HMRC by 5th October 2018 that you will
Changes to HMRC late tax return penalties
At present, the penalties for a late tax return can amount to £1,600… even if you were initially due a repayment of tax but had not submitted the return on time. However, there are plans to change the current system
Tax accountants in Surrey celebrates 12 years in business
I founded taxhelp.uk.com back in 2006, after building up 17 years’ experience in both practice and industry. From working with business owners over a number of years I identified the need for a different type of service: – Specialising in
Changes to HMRC rent a room tax relief
** now CANCELLED in the 2018 October Budget ** There is a very useful tax relief for people who rent out rooms in their own home – the first £7,500 of income is tax-free. However, with the rise of many
Changes to Capital Gains Tax on second properties
At present, when you sell a second property you have some time before the capital gains tax(CGT) is payable. For example, selling a property in July 2018 would fall into the 2018/19 tax return – the tax would not be
HMRC 31/07/18 Payments on Account
It will shortly be time to make payment of the second HMRC payment on account for 2017/18. There are two payments on account required for 2017/18, the tax year that ended on 5th April 2018. The first was paid by
Incorrect underpayments in tax computations
I have noticed a couple of issues with HMRC 2018 tax computations recently, relating to a figure included for unpaid tax brought forward. In both cases, the clients had an estimated underpayment included in a tax code that changed part
HMRC 2018 Tax Return Form
Now that the 2017/18 tax year has finished, it is time to complete the 2018 tax return. Finding the form online can sometimes be a challenge – the official name for a UK tax return form is a SA100. To
Daily fines for a late 2017 tax return are approaching
Although we have now started on completing 2018 tax returns(covering the year to 5th April 2018), there may be some people who have yet to complete the 2017 tax return. This should have been submitted to HMRC by 31st January
Watch out for the buy to let mortgage interest changes
People will shortly be completing their 2018 tax returns, which cover the year to 5th April 2018. However, this is the first year where the mortgage interest restrictions introduced last April will apply. In the 2017/18 tax returns, only 75%
