HMRC aiming to eliminate cheques
As part of HMRC’s ongoing cost-cutting, they have recently stated their aims to eliminate cheques. However, there is a portion of the population who still use cheques regularly so this may take some time. Paying HMRC In the past people
taxhelp.uk.com celebrates 11 years in business
It was back in July 2006 that I founded taxhelp.uk.com. Rather than becoming a general accountancy practice, I started the business to specialise in helping small business – usually one person running their own business from home as a sole
Good news about Making Tax Digital(MTD)
We have some excellent news – Making Tax Digital(MTD), the coming burden that many self-employed people were unaware of, has been postponed until at least 2020 (and hopefully permanently.) While improving systems and more up-to-date data for small businesses is
HMRC 31st July 2017 Payments on Account
The end of July marks another tax deadline – for paying the second instalment towards your 2016/17 tax liability. If you are required to make payments on account then these are calculated as 50% of your 2016 tax liability each.
Finance Bill Changes
Due to the upcoming election, several sections were dropped from the finance bill so that it could pass through quickly. There are quite a few sections that have been dropped, we will have to wait and see if they are
It’s time to complete your 2017 HMRC personal tax return
Now that the new tax year has started, you can commence preparation of your 2016/17 personal tax return. The 2017 tax return covers income and expenses in the year to 5th April 2017. Although the first deadline isn’t until October,
Daily fines for a late 2016 tax return are approaching
People may think that the fine for a late 2016 tax return is £100… but in fact it can actually be £1600 or more. The fine applies even if you have a overpayment of tax for the year – it
Time to invest in your business equipment
As the 2016/17 tax year draws to a close on 5th April 2017, now is the time to review whether you should replace any existing equipment. If you purchase new equipment now then you will receive tax relief straightaway in
Dividend tax changes from April 2018
Back in April 2016 the tax on dividends changed, however as the 2017 tax returns have yet to be prepared there is a good chance that a large number of people don’t know about the last change – let alone
Changes to Class 2 and Class 4 National Insurance in 2018
Last week we had details announced about changes to both Class 2 and Class 4 National Insurance, to take effect from April 2018. However, this has now been revised from the National Insurance changes were announced back in March 2016,
2017 Spring Budget #Budget2017
Yesterday saw the Spring Budget 2017, with several updates affecting the self-employed: Making Tax Digital(MTD) A welcome postponement of the introduction date was announced – for those who are below the VAT threshold, the first time they will have to
HMRC MTD Update February 2017
We finally have some more details about MTD from HMRC, although some other details are still to be confirmed. Who will be affected by Making Tax Digital(MTD)? At present there are only two groups of people who will be affected:
