Category

Tax
After almost seven years in the making – the concept of digitalising tax was first proposed back in 2015 – the Making Tax Digital (MTD) deadline is officially here. All VAT-registered businesses had until 1st April 2022 to register for Making Tax Digital. With this in mind, we thought we’d take a closer look at...
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The original deadline for self-assessment tax return filing may have been and gone. But with some 5.7 million people failing to file their 2020/21 tax return by this cut-off date, recent news from HM Revenue & Customs (HMRC) may be a welcome relief for many self-employed professionals. January’s self-assessment filing deadline has been extended HMRC...
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During these unprecedented and challenging times, businesses everywhere have been feeling the pressure. The government have stepped in to provide grants, loans and support schemes to keep many industries going, but longer term business investment seems to be out of reach as companies big and small look to get back on their feet post-lockdown. Rishi...
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In the midst of the Covid-19 (or coronavirus) lockdown, it’s safe to say that ‘business as usual’ simply hasn’t been possible for many companies up and down the country. With only stores providing essential supplies able to remain open and others only permitted to operate online, businesses of all sizes and niches are struggling to...
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Claiming all the tax reliefs you’re entitled to is one thing we advise all our clients to do. Self-employment can after all be a rewarding yet challenging experience, especially when it comes to maintaining the cash flow that keeps you and your business afloat. By claiming all the tax reliefs, allowances and expenses you’re eligible...
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Self Assessment offers a convenient way to file tax returns and settle any outstanding Income Tax and National Insurance Contributions (NICs) for many professionals, including sole traders. Whether you’re completing your Self Assessment tax return yourself or getting a little help from a professional like us, there are a few dates that will certainly be...
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The Self Assessment deadline is looming, which can leave most self-employed professionals scrambling to complete and file their tax returns. No matter how many times you’ve had to file your tax return, the completion of Self Assessment doesn’t seem any less stressful. But with the right knowledge, you can file your return accurately and on...
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What Changes Does the New Tax Year Bring? With the end of one tax year, comes the beginning of another. The new era however doesn’t just represent the approach of another self-assessment deadline. Several tax changes have been implemented as of 6th April 2019, but what does the start of the 2019/20 tax year mean...
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After a long wait, the Making Tax Digital (MTD) deadline is finally upon us. As of the 1st April 2019, all VAT-registered businesses who are above the £85,000 threshold will have to use this more effective and efficient tax system to submit their returns. Going digital has been a long time coming, if you’re yet...
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There are several reasons why you may not be able to pay your self-assessment tax return bill on time. Cash flow difficulties are one of the most common reasons for late payment to HM Revenue & Customs (HMRC), but it’s important to understand that you’re not alone. According to recent findings, as published in The...
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