HMRC has announced that late filing penalties will be waived for taxpayers that file their 2020-21 Self-Assessment returns by 28 February 2022. The due date of 31 January 2022 remains and HMRC is still encouraging taxpayers to try and meet this … Continue reading HMRC agree delay in tax return deadline
There are a number of reasons why you might need to complete a Self-Assessment return. This includes if you are self-employed, a company director, have an annual income over £100,000, and/or have income from savings, investment, or … Continue reading Who Needs To Register For Self-Assessment?
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
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
If you are entitled to the marriage allowance and have not yet applied, then you could receive a payment of up to £1,220 from HMRC. The marriage allowance is available to qualifying married couples and those in a civil partnership where a spouse or … Continue reading Are you missing out on marriage allowance?
This month we are focusing on: Different Trading Vehicles to Consider for your business And this week are looking at: What are the requirements for a sole trader at year-end? Becoming a sole trader is the simplest way to get your new business off … Continue reading Terrific Tuesday Tax Tip – What are the requirements for a sole trader at year-end?
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: Jack and Jill started living apart in November 2018 but there was then no contemplation of a divorce. In May 2019 they discussed their situation and at that point in time decided to get divorced. They agreed to get divorced in January 2020. … Continue reading Tax Question Of The Week – Date Of Separation For CGT
...Tax Returns Advice In this blog we will try to give you the best possible generic advice for preparing your 2019 tax returns. This is aimed at making it easier and more straightforward for you to complete your 2019 tax return. If you … Continue reading FOSTERING
Clients have enquired about the possibility of claiming relief for expenses incurred in connection with closing down their company. In particular, they would like to know whether they could get tax relief for professional advice that they have … Continue reading Tax Question Of The Week – Tax Relief And Expenses
Don't leave your tax return to chance. Our top tips for getting the monkey off your back ... Get organised - the sooner your tax return is filed, you will be able to plan for your tax liabilities. Use an Accountant - Avanti offer competitive … Continue reading TAX YEAR END IS COMING