Let Property Campaign Ongoing
Unlike most voluntary disclosure campaigns from HMRC, which normally run for a short period of time, the Let Property campaign is still ongoing. It was first introduced in late 2013, as an opportunity to voluntarily disclose rental income, and reduce…
Tax Fraud Office Pursues Sheikh Gulzar
By Emma Harwood Hastings Pier owner Sheikh Abid Gulzar was fined thousands of pounds last week for breaching tax regulations along with two of his companies which had been ‘trading illegally’, according to HMRC’s Fraud Investigation Service. The Eastbourne-based hotelier…
Marriage Allowance
Whilst not as valuable as the Married Couple’s Allowance, which requires at least one partner to have been born before 6th April 1935, the Marriage Allowance can still provide a tax saving. Its main application is for couples where one…
Making Tax Digital Is Coming
Whilst it has been subject to several delays, the government’s Making Tax Digital (MTD) system is almost upon us. It is intended that it will take effect for VAT registered businesses with turnover above the threshold (currently £85,000) from 1st…
Missed The Tax Return Deadline?
The deadline for filing 2017/18 tax returns online was 31st January 2019. The deadline for paper returns was 31st October 2018. Unless a tax return was issued late, in which case you will have a later deadline based on when…
Strange Excuses and Expenses
Though most complete their tax returns honestly and on time, every year HM Revenue and Customs (HMRC) receives some outlandish excuses. Some of the most bizarre excuses HMRC received from those who missed the Self Assessment deadline show a large…
Questions and Answers
I complete my own VAT returns for my business. Reviewing my records for my tax return, I realise I have made some mistakes. How do I go about correcting these and will I be liable to penalties and interest? Most…
Paying your tax bill
If you took my advice from last issue, you will have now filed your tax return. If you have not done so, you need to take action as soon as possible, as the final deadline is 31st January ; Even…
Amended Tax Calculations
With the changes to the tax law that came in for the tax year ended 5th April 2017, significant changes were required to the tax return. Unfortunately not all of these changes could be implemented in HMRC’s tax calculation software,…
Prepare for a Happy New Year
No doubt most people are making plans for Christmas at present. However, if you are self-employed, there is something else you need to be planning for. The deadline for filing tax returns for the year ended 5th April 2018 falls…