by David Winfield | Oct 14, 2024 | Uncategorized
Paper tax returns. If you prefer to fill in your tax return on paper, you have until midnight on 31 October 2024 to deliver it to HMRC. If you miss the deadline you’ll be fined £100 with the possibility of additional fines depending on how late the retun is....
by David Winfield | Sep 12, 2024 | Uncategorized
If you’re a sole trader or in partnership you may need to show extra information when completing your 2023/24 tax return. What’s required and how might it affect your self-assessment payment due on 31 July? Transitional year. 2023/24 is the basis period transition...
by David Winfield | Oct 4, 2021 | Accounting News, Uncategorized
HMRC has explained the circumstances in which it will consider not charging a late payment penalty under the new regime. What’s the full story? New penalty rules recap. The new regime for penalties for late tax payments will be phased in from April 2022 starting with...
by David Winfield | Sep 20, 2021 | Accounting News, Uncategorized
Boris Johnson has announced that NI and dividend tax rates will be hiked to help fund social care and clear the NHS backlog. Who will be affected and by how much? Firstly, NI rates will increase by 1.25% from April 2022. This will apply to both primary and secondary...
by David Winfield | Aug 16, 2021 | Accounting News, Uncategorized
Whilst the Finance Bill 2021 was relatively low key, one announcement might mean a year has been slashed from a crucial Making Tax Digital (MTD) deadline for many unincorporated businesses. What’s the full story? A major aim of MTD is to bring the payment date for all...
by David Winfield | Jul 19, 2021 | Accounting News, Uncategorized
Your accountant has suggested transferring your business to a limited company to save tax and NI. While you’re leaving the red tape up to her are there any steps you can take to make the transfer even more tax efficient? Incorporating your business Despite...
