Government Coronavirus Support Schemes
As the coronavirus pandemic sweeps the globe, the UK, like many countries, has put a lockdown in place. Whilst the retail, hospitality and leisure sections have been hardest hit by this, many businesses have seen a downturn in their finances…
End Of Tax Year Planning
The end of the tax year, falling on 5 April 2020, is almost upon us again. Whilst there are still only a couple of weeks left, there may still be time for some planning to keep your tax bills down.…
Tax Code Changes
From 5 April 2020, the tax codes of employees across the UK will change. The tax code determines how much of an individual’s personal allowance is applied to their wages. This will then be used to calculate how much tax…
Amending Tax Returns
Despite the deadline being ten months after the end of the tax year, nearly one million people failed to file their tax returns on time. Those people will now be faced with a £100 late filing penalty and may face…
Reducing Payments On Account
If the tax due from your 2018/19 tax return was more than £1,000 then HMRC will be expecting you to make payments on account for the following year. On the assumption that your income will be steady, payments on account…
HMRC Collection Powers
Filing your tax return is only half of the story. The majority of people filing tax returns will also have a tax liability to pay as well. Not all of those will have set aside funds to cover this, leaving…
Tax Return Filing And Payment
The online filing deadline for 2018/19 self-assessment tax returns is fast approaching. Those who file their tax returns digitally have until 31 January 2020 to get their return in. In the rare instance where someone was required to file on…
HMRC Tax App Released
HMRC have released an app, available on iOS and Android, for taxpayers. This app includes a news feed from HMRC and a calculator to allow employees to check their expected take-home pay. If you have an account with the…
Tax Questions and Answers
I am VAT registered and account for VAT on my sales when I raise an invoice. I have just found out one of my customers is going out of business and I don’t think I will get paid. How can…
Tax Questions and Answers
I have already prepared my 2019/20 tax return and I have a small tax bill. My main source of income is employment. Can I get this additional amount collected through PAYE? It is possible for HMRC to collect additional tax…