Bookkeeping, Accountancy and Taxation services
There are now less than two months to file your 2020-21 Self-Assessment tax return. Last year over 12.5 million taxpayers were required to complete a Self-Assessment tax return but over 1.8 million taxpayers missed the 31 January … Continue reading Tick Tock…Taxes
From 6 April 2014, the annual allowance for tax relief on pension savings in a registered pension scheme was reduced to £40,000. This includes contributions made by anyone else into your pension such as your employer. If your pension savings exceed … Continue reading Annual limits for pension payments
As we speculated in a post last week, we expected and were granted, more tax by stealth in the October budget. This time, it was the self-employed who will potentially, be out of pocket. It will affect all self-employed businesses – sole … Continue reading Tax by stealth?
The 2020-21 tax return deadline for submitting your paper Self-Assessment returns is 31 October 2021. The tax deadline for submitting online returns is 31 January 2022. Late submission of a Self-Assessment return will become liable to a £100 late … Continue reading Time to file your tax return
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
