Tag archives for tax return
Change to Tax Return “Deadline”
By the time you are reading this, the 31st January 2021 deadline for filing 2019/20 personal tax returns will have passed. In any normal year, this would mean that anyone…
Starting Self-Employment
As their employers suffer in the current pandemic and the furlough scheme winds down, some employees have found themselves being made redundant. Many will look for other employment but others…
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…
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…
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…
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…
No Excuse for Lateness
With the pressure of running a business, it is easy to overlook deadlines. As previously mentioned in these pages, the penalties from missing the tax return deadline can be high.…
Filing your tax return early
The bright sunny weather that we have become used to has finally given way to the rainy British summer we all know. With this meteorological change making it more attractive…
Tax Questions and Answers
I’m told I will need to make a payment on account in July. What is this? When you receive income from PAYE, tax is deducted from each payment throughout the…
Tax Questions and Answers
I’ve focussed so much on growing my new business, I haven’t kept up with the tax side of things. Now it’s May 2018 and I still haven’t filed my 2016/17…
Tax Questions and Answers
I started my business in the summer. Should I have completed a tax return this January? No, the first tax return you will need to complete is for the year…
What to do if you missed the tax return deadline
The deadline for filing your 2016/17 self-assessment tax return was 31st October 2017 for paper returns and 31st January 2018 for returns submitted online. If HM Revenue & Customs asked…