Out of This World Excuses for Late Returns

With the 31st January Self-assessment filing deadline just gone, HMRC have published their list of top excuses for late filing. Each year, HMRC publish the ludicrous excuses from taxpayers who miss the deadline, seeking to appease the taxman and avoid penalties. Last year’s top excuse of “my tax return was on my yacht, which caught … Continue reading Out of This World Excuses for Late Returns

Tax Return Deadline is Approaching

It comes around almost as fast as Christmas, and here we are again. The 31 January 2018 marks the deadline for filing of the 2016/17 Self-Assessment Tax Return (SATR). Individuals who are required to submit a SATR include, the self-employed and some landlords, investors, company directors, high earners and people who have worked overseas. Those … Continue reading Tax Return Deadline is Approaching

Personal Credit Cards Banned for Tax Payments

In what will be unwelcome news for many, as from 13 January 2018 taxpayers will no longer be able to use personal credit cards to settle their self-assessment tax bills. This comes as a result of the Government ban on credit and debit surcharges and it is feared the move could be detrimental to many … Continue reading Personal Credit Cards Banned for Tax Payments

Winter Newsletter

Our latest newsletter is here, packed with information on dividend changes, Making Tax Digital, auto enrolment and much more! To view our latest newsletters, visit the publications section of our website. Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.

Tax Return Deadline is Approaching

It comes around almost as fast as Christmas, and here we are again. The 31 January 2017 marks the deadline for filing of the 2015/16 Self-Assessment Tax Return (SATR). Individuals who are required to submit a SATR include, the self-employed and some landlords, investors, company directors, high earners and people who have worked overseas. Those … Continue reading Tax Return Deadline is Approaching

Self Employed Landlords: What you need to know about Digital Accounting

By 2020 most businesses, self-employed individuals and landlords will be required to use software or apps to keep their business records and to report their income and expenditure on a quarterly basis to HM Revenue & Customs. This new regime will commence on 6 April 2018 for most small businesses. Self-Assessment tax returns will no longer … Continue reading Self Employed Landlords: What you need to know about Digital Accounting

Daily Penalties For 2014/15 Tax Returns Still Not Submitted

For those whose 2014/15 self-assessment tax return was due at HMRC by 31 January 2016 but has still not been submitted, it’s now time to confront that pile of paperwork hidden away in the folder marked “To Do”. For the majority of those in self-assessment the deadline was 31 January 2016, and if your tax … Continue reading Daily Penalties For 2014/15 Tax Returns Still Not Submitted

Don’t Put Off Until January What You Can Do In July…

It’s February again, and many an accountant and tax advisor is heaving a sigh of relief that another self-assessment deadline has passed. The month of January often puts extra pressure on accounting professionals as they endeavour to submit eleventh-hour returns before the end of the month to help their clients avoid penalties and interest on … Continue reading Don’t Put Off Until January What You Can Do In July…

To be (In Self Assessment) or not to be (In Self Assessment) – That Is The Question!

In the March budget HMRC announced that the tax return as we know (and love?) it is to be abolished. As we eagerly await the release of the “roadmap” in late 2015, which outlines the plan, let us remind you who should currently be submitting tax returns. This list is taken from the Gov website and … Continue reading To be (In Self Assessment) or not to be (In Self Assessment) – That Is The Question!

Prevent Late Payment Penalties With A Time To Pay Arrangement

For those seasoned Self Assessors the 31 January deadline will be all too familiar. This is when your tax return is due, along with your balancing payment and the first payment on account for the current tax year (if applicable). You may not be so aware, however, of the late payment penalties that are imposed … Continue reading Prevent Late Payment Penalties With A Time To Pay Arrangement