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Matching "HMRC" Tag

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HMRC have told us for several years now that we must file our payroll returns on or before the date the employee is paid.  Most employers have a regular payment date and as a payroll bureau we ensure that we file the return on or before that payment date. But what happens if you forget to or are unable to file a return on the payment date? …
We are often asked this question by business owners taking on their first employee particularly if they are not going to be working many hours.  Employers believe that because they aren't paying their employee very much they don't need to put them on the payroll but that is not necessarily the case.  Or perhaps because they are just taking them on for a trial period of a week or month they think it is a waste of time adding them to the payroll.  Neither of these reasons will be considered by HMRC as an acceptable excuse for not putting your employee on the payroll if it is found later that they should have been.…
An article I read recently stated that there is £28m of overpayments on student loans waiting to be reclaimed.  Are you one of those who have paid more than you needed to against your student loan debt?…
VAT records must be kept  for six years although HMRC are only allowed to adjust returns going back four years plus the current period.  However if you have purchased land or buildings you may need to keep relevant documents for 20 years.   But what VAT records do you need to keep?…
On 4 October 2018 the government issued a press release which stated that new measures were in place to end the problem of late payments to small businesses.  It stated that nearly a quarter of small businesses suffer from late payments which threaten their survival. …
Finally the month for submission of VAT returns via MTD arrived and we survived. Months and months of talking about it, reading about it and watching webinars. Then we just had to get on with it. …
Whilst we are still part of the EU VAT registered businesses which supply goods to a customer in a EU country must charge VAT at the standard UK rate.  However if that customer is VAT registered, as long as they provide you with their VAT number you can…
If you are a sole trader or consider yourself to be self-employed you will need to declare your income and expenses to HMRC at the end of each tax year through a self-assessment tax return.  Even if you earn income in addition to being employed and receiving pay through a payroll from your employer you need to declare your additional income to HMRC.  The only exception to this…
If you want to grow your business at some stage you will need to take on your first employee.  It can be daunting because there are many things you need to consider.  But once you have taken that first step you are on your way to developing your business.…
2019
29
APR
Some businesses do not want to become VAT registered because they think it is too complicated to do VAT returns.  It is quite straightforward especially now that VAT returns can be submitted directly from your accounts software. Here are some tips for keeping VAT simple and getting it right.…
48 articles 
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