self assessment

This tag is associated with 23 posts

Are you prepared for digital tax returns?

Are you prepared for digital tax returns? As a business owner, you may be aware that as from this month, HMRC will begin to make changes which will eventually see all businesses supplied with a completely digital tax account.  By next year, it is envisaged that around five million businesses will have made the switch […]

Deadline looms for HMRC dispensation changes

6th April 2016 sees HMRC’s move to scrap the need for employers to apply for dispensation when reimbursing work-related expenses incurred by each employee and director, earning over £8,500 per annum. On the surface HMRC’s change in legislation would appear to spell good news for employers who will benefit from reduced paperwork and administrative procedures.  […]

New Dividend Tax Regime Post 5th April 2016

The first Conservative only budget in more than 19 years back in July 2015 was certainly not welcomed by the contracting community. From a contractor’s point of view one of the biggest changes announced in the budget is the change to the way in which dividends will be taxed from 6th April 2016. As it […]

Landlords dealt a double blow in tax changes

The property crisis during the last recession saw a sharp increase in the demand for rental properties across the country, due to difficulties experienced by significant numbers of potential home owners in securing credit.  For those in a stable financial position, buy to let quickly became an excellent option for investment, in many instances yielding […]

Real Time PAYE Starts in April 2013 – Important Information

Real Time PAYE Starts in April 2013 – Important Information The stressful Year End process of P35 and P14 submission will disappear starting from 6th April 2013, replaced with a submission to HM Revenue & Customs each time your business pays its employees. This is called Real Time Information, or RTI, and it will mean […]

IR35 Update

Amendments to IR35 (intermediaries legislation) The government announced recently that the IR35 rules are to be changed to ensure that the legislation applies to office holders or anyone regarded as an office holder for tax purposes. This follows media criticism of public bodies using personal service companies in situations where it was not always clear […]

Budget 2012

Budget 2012 The Chancellor of the Exchequer George Osborne presented his Budget for 2012 to Parliament on 21 March 2012. Headline summaries of the main announcements which affect businesses and individuals and listed below (source HMRC website www.hmrc.gov.uk) Income tax rates and Allowances 2012-13 and 2013-14 As announced at Budget 2011, the income tax allowance […]

HMRC’s Electricians’ Tax Safe Plan

If you are working in the electrical industry, have not told HM Revenue & Customs (HMRC) about all your income and now want to get your tax affairs back on track, use the Electricians’ Tax Safe Plan (ETSP). An electrician is anyone who installs, maintains and tests electrical systems, equipment and appliances under stringent safety […]

Employment Taxes updates – October 2011

Employment Taxes updates – October 2011 –      Two First Tier Tribunal cases on employment tax status –      A reversal for Total People Ltd in the Upper Tribunal (lnvolving NIC refunds on car allowances) –      New HMRC guidance on visits to the UK where employees are seconded on full time contract abroad lan Mitchell v HMRC […]

New Penalties for Late Self Assessment Tax Returns

New Penalties for Late Self Assessment Tax Returns  Tough new rules – For several years HM Revenue & Customs have been debating tightening the rules on late Self-Assessment returns, everyone knew that there were changes coming from this April, however, I think it is fair to say that the harshness of the new penalty system […]