Avoiding VAT Surcharges
As with so many things involving HMRC, failing to file and pay your VAT on time can result in penalties. VAT penalties are referred to as surcharges and you must have failed to meet your responsibilities at least twice before…
Penalties For Parents Cancelled
Parents of young children are entitled to support from the government through Child Benefit. However, in January 2013, the government decided that those on higher incomes did not need these additional funds to support their children. Instead of introducing a…
Appealing Against Penalties
The world of tax is full of deadlines and failing to meet these will often result in penalties. However, whilst HMRC might sometimes suggest otherwise, such penalties are not necessarily set in stone. If you have a good reason for…
Registering For Self-assessment
We are now a month and a half into a new tax year. If you have completed a tax return in previous years, then you are likely to have already received a notice from HMRC to file a return for…
Tax Codes
I have employment income and I was expecting my tax code to go up. Instead it has gone down and I am now paying more in tax. Why is this? Tax codes are part of the PAYE system. Their purpose…
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…