What is a Unique Taxpayer Reference?
A Unique Taxpayer Reference (UTR) is essential for Self Assessment and running a business. This guide explains what a UTR is, who needs one, where to find it and how North Devon Accounts can support you with HMRC registration and compliance.
Deed of assignments won’t be treated as nominations for income tax
Since March 2023, a deed of assignment will not be treated as a nomination for income tax purposes. This guide explains what that means for landlords, how property income is taxed and how North Devon Accounts supports property owners with clear, compliant tax planning.
Alcohol duty changes – what it means for pubs, stores and small brewers
Alcohol duty changes are impacting pubs, retailers and small brewers. This guide explains how the updated system affects pricing, margins and compliance, and how North Devon Accounts supports hospitality businesses across North Devon with proactive tax and financial advice.
Pension Tax Overpayments: How to Check and Claim a Refund
Pension withdrawals can result in unexpected tax overpayments. This guide explains why overpayments occur, how to check if you are owed a refund and how North Devon Accounts supports clients across North Devon with pension tax reviews and HMRC claims.
What employee perks will the taxman help you fund?
We all love a perk of the job, and a major industry has built up around the types of employee perks companies are able to offer. The best news of all is that most of these will be tax deductible, which means the taxman will fund at least part of them. Everything from...
Reduce your company tax bill by doing a good turn
Charitable giving is something many organisations might not be considering in the current climate, especially as everyone is struggling to pay their bills. But if you have money to spare within your business, then charitable giving is a great way to reduce your tax...
Keep National Insurance numbers in Apple wallets now
Do you struggle to remember – or find – your National Insurance number when you’re asked for it? If so, you’re not alone. So, it will be a relief to many that HMRC has now created a way for iPhones to store someone’s National Insurance number in their Apple Wallet...
Self-assessment thresholds change for PAYE workers
The threshold for people taxed through PAYE who are required to file a self-assessment return has increased from £100,000 to £150,000. Those affected should be contacted by HMRC if they need to change anything. That said, there have been times in the past where HMRC...
New tax regime for sole traders and partnerships starts
HMRC is changing the way sole traders and partnerships need to calculate profits for their self-assessment returns. The Revenue will require the profits to be declared for the tax year in question, rather than the accounting year as is currently the case. Any sole...
Deadline to catch up on National Insurance contributions extended
Anyone with an incomplete National Insurance contributions (NICs) record between April 2006 and April 2016 now has until July 31 to add to their NICs to qualify for a full State Pension after HMRC extended the deadline. Thousands of taxpayers have incomplete years in...