26.9 C
London
Monday, August 15, 2022

Tax

As a part of their ongoing COVID-19 support, HMRC says it will be giving taxpayers an extra month to submit their 2020/21 Self-Assessment tax returns, and a payment deadline extension for those who still owe tax.
Landlords who manage their portfolio through a VAT-registered business have been warned they must sign up to HMRC’s Making Tax Digital (MTD) initiative by 1st April. It will then become mandatory for all businesses...
With the 2021/22 tax year coming to an end and the 31st of January ITSA deadline looming, now is a good time to be looking at ways and solutions to improve your accounting.
Many landlords submit their self-assessment tax returns either via software or their accountant but one of the questions that we’re frequently asked is ”who’s to blame if my tax is wrong?”. We’re not saying...
The world is undergoing huge changes. With coronavirus pushing the economy to the limit, people are questioning the role of established institutions. And if finance doesn’t work to enable the economy, businesses or individuals,...
However, Carol Lewis writing for the Sunday Times newspaper thinks that holiday let owners should be paying council tax. “Given that levelling up is the government's buzzword du jour, it is time to level...
HMRC warns that owners must accurately declare these earnings on their self assessment tax returns or face criminal charges if in default. A boom in bookings The Covid pandemic has stored...
The ending of an overlap period for profits for the self-employed could result in bigger tax bills. A change in the basis periods for the assessment of self-employed profits to coincide with the tax...
An official review of the Capital Gains Tax (GGT) has recommended that those selling property should be given 60 rather than 30 days to report and pay their CGT or that estate agents and conveyancers should mandated...
The digitisation of business and personal accounts reporting to HMRC is coming soon for businesses below the VAT threshold. It is now less than 12 months before those VAT registered businesses with turnovers...