Do I need to file a personal tax return for 2018?
There are just under four months to go before the tax returns for 2017/18 are due for filing and payment. Every year we are asked the same thing – ‘Do I need to fill in a tax return?’. …
Why you shouldn’t wait until the last minute to file your personal tax returns
Self-assessment personal tax returns for the 17/18 tax year are due for filing, along with any payment due, by 31st January 2019 at the latest. But why would anyone leave it that late to file it? You can file…
What is Making Tax Digital (MTD) ?
What is Making Tax Digital (MTD)? Making Tax Digital, known as MTD, is a Government initiative to simplify the UK tax system and make the recording and reporting of taxes easier for businesses. It will require all businesses…
Potential dividend allowance cut could “clobber” small businesses
The Chancellor of the Exchequer has been urged not to ‘clobber’ small business owners by taking away the Dividend Allowance. The Federation of Small Businesses (FSB) has expressed concern that the Chancellor will reduce the tax free dividend…
A Contractor group has called on HMRC to open a ‘suicide hotline’ in response to the new loan charge
Volunteer support group – the Loan Charge Action Group (LCAG) – which represents contractors and freelance workers, has called on HMRC to set up a 24 hour ‘Suicide Hotline’ to deal with the increasing number of people concerned…
Small businesses feel penalised by HMRC investigations
HMRC has commissioned and released research into it’s own investigations and the impact on small businesses. Over half of those questioned said that they felt the HMRC investigations were too intensive and disruptive. 52% of the business stated…
Non taxable benefits and payments to employees
Not many people realise but there is an extensive list of benefits and payments that an employer can give to an employee without having to pay income tax or national insurance on and they do not have to…
Sole trader vs Company: Benefits and Drawbacks
Should I be a sole trader or a company? We are often asked that question when people are setting up in business, and the truth is it depends on the individual scenario and what you are looking to…
Are you a worker or a contractor?
It was hard to miss the news last week that Pimlico Plumbers lost their case in the High Court against former employee Gary Smith. Smith argued that despite being VAT registered and paying self-employment income tax, he was…
Greater delay in HMRC answering calls
It will come as little surprise to most to discover that HMRC are taking longer than ever to answer telephone calls, and more than ever are going totally unanswered. Recent information released by HMRC shows that more than…