Bookkeeping, Accountancy and Taxation services
We have previously mentioned that draft legislation has been published to change the basis periods for the assessment of self-employed profits to coincide with the tax year. The proposed new rules provide that from 2023/24 onwards profits or losses … Continue reading Self-Employed To Suffer BIG Tax Bills in 2022/2023
If you have filed a form to register as self employed, typically a CWF1 for a sole trader, SA401 for a partner or an SA1 for a Director - prepare for a long wait as HMRC advised a member of the Avanti team today that "many appear to have … Continue reading NEWSFLASH: HMRC ‘Lose’ Self Assessment Registrations
If you're starting out in business, operating as a sole trader may be the ideal way for you to start and test the waters, without all of the red tape and statutory filing that comes with running a Limited Company. However a Limited Company will … Continue reading Top Tips For Sole Traders
You have one week before your payment on account is due to be made to HMRC. Please give us a call for advice on how your payment on account works, and whether or not it applies to you. (08000) 388 799 … Continue reading Deadline Approaching – 31st July
Q - I am looking at gifting my child a sum of money. What are the income tax consequences if I use a bare trust to do so? Answer … Continue reading Tax Question Of The Week – Bare Trust
It would seem that the HMRC campaign pecked away at most self assessment tax payers ....a total of 93.68% of Self Assessment tax returns – a new record – were completed by Thursday’s midnight deadline, HMRC reveals. More than 11.5 million taxpayers … Continue reading HMRC Campaign helped SA taxpayers get their ducks in a row…
With the self-assessment deadline looming on the horizon like the unwanted Christmas guest arriving, it's time to save the excuses, and give Avanti a call (08000) 388 799 for proactive advice, friendly service, and jargon free accountancy. Some of … Continue reading Self Assessment – Excuses and Expenses
Christmas sees the team at Avanti working as hard as the elves in Santa's workshop as we aim to submit all clients tax returns online.on time.no fine for the 19th consecutive year. The 31st January 2018 saw a huge 10.7 million customers submitting … Continue reading Christmas? Tax Return Season Is Here!
Should you reduce your July payment? The second payment on account deadline of 31 July is fast approaching. Payments. If you have significant income that isn’t taxed through PAYE (or otherwise at source), it is likely that you make payments on … Continue reading Terrific Tuesday Tax Tip – July Deadline
We have received several cases where a client’s Self-Assessment Tax Calculations has not included a Class 2 National Insurance Contribution on it. The reason for this is due to the client registering as self-employed around the tax year 15/16, … Continue reading Class 2 NICs News Alert
The deadline to ‘register’ for self-assessment for the 2017-18 is 5th October 2018. This affects for example:- A) Individuals who now earn over £2,500 per annum from a rented property or owned shares. B) Those receiving higher income child … Continue reading Self Assessment Registration Deadline Looms
