Aug 1, 2022 | Information, News, QuickBooks, Tax, Vault
Companies and sole traders who have not yet finalised their plans to comply with Making Tax Digital are in the last chance saloon this month, and the very latest date you have to comply with MTD for paying VAT is August 7. That is the latest date on which you will...
Jun 27, 2022 | Business Start Ups, Expenses, FAQ, Information, Making Tax Digital, News, Tax, Vault
If you are unlucky enough to be fined for a late filing, then the way in which any appeal can be made changed as of May 7. Prior to this, HMRC had temporarily reintroduced the ability to bulk appeal late filing penalties for income tax in 2020 and 2021. But from now...
Jun 13, 2022 | Business Start Ups, Tax, Vault
There is a tendency for many of us to leave our tax returns until the last minute. It’s human nature to want to delay dealing with something we find uncomfortable. However, if you get your tax return for the 2021/22 tax year completed sooner rather than later, you...
Jun 9, 2022 | Business Start Ups, News, Tax, Vault
Some taxpayers must pay a tax more than once a year, and if this is you then you are facing a second tax bill before July 31. Those exempt from making a payment on account in July include those who had a self-assessment tax bill of less than £1,000 for the previous...
May 23, 2022 | Business Start Ups, Information, Tax, Vault
What is a Payment on Account? If you owe more than £1000 tax you will be required to pay a Payment on Account. Payment on Account means that you pay your tax in two instalments: First in January (the usual deadline for paying the tax bill for last year) Second in July...
May 16, 2022 | Expenses, Information, ISA, Tax, Vault
If you are one of those people who is always racing to use up your tax allowances, such as Individual Savings Accounts (ISAs) at the last minute before the end of April 5, then you are not alone. But you could be making a big mistake. When it comes to mopping up tax...
