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Matching "HMRC" Tag

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From April 2023 individuals who have income of more than £10,000 per year, including from property, and who complete a Self Assessment Tax Return will have to submit their accounts digitally to HMRC on a quarterly basis.  Whilst this seems a long way ahead now is the time to start thinking how you will manage this.…
In November 2020 the Chancellor announced the new rates for the National Minimum Wage which will take effect from April 2021.…
HMRC have produced clear guidance on what individuals and businesses will need to do when we have left the EU on 1 January 2021.  There is an HMRC tool to use which will give specific information for your own personal or business circumstances which can be found here.  …
Businesses who deferred their VAT payment which was due to be paid between 20 March and 30 June now have 3 options for payment.…
There are just 3 months left until the deadline for submission of your tax return for 2019-20.  Late and non submission will incur penalties starting at £100 and will increase if the return is over 3 months late.  During this year the importance of submitting tax returns on time became clear because those who hadn't weren't able to receive the SEISS grant which was based on tax returns submitted in previous years. So how do you know if you need to complete a tax return…
Did you know that HMRC have webinars available on lots of different topics which provide you with support or guidance? You can sign up to…
The Chancellor has announced new support for employers from 1st November after the current Job Retention Scheme ends on 31st October.  Yet another challenge for payroll providers just when we thought we might get a couple of months breather before the Job Retention Bonus after the end of January and the end of the tax year in March! The Job Support Scheme will run for six months and is designed to…
HMRC is not always right when it comes to what you owe them.  Over the years we have had lots of situations where HMRC have told our clients they have underpaid PAYE when they haven't.  Although, to be fair, they do notify clients when they have overpaid too.  Recently a number of employers we work with…
Several of our clients have received HMRC notifcations of late payment of their PAYE over the last few weeks.  In April, May and June this was often because employers were out of their usual routine and forgot to set up payments, although a couple did think they didn't have to pay when they were using the furlough scheme! More recently though we have had two employers…
Becoming VAT registered can be a little daunting for those new to business.  It means keeping your accounts records organised and and up to date and ensuring that you have VAT receipts for all the business expenses you want to claim back VAT on.  It also means that you need to know whether the products or services you sell should have VAT added.…
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