Tax

16 Jun

How landlords can save tax with the Marriage Allowance

In the UK, landlords are able to save tax by sharing the Personal Allowance of their lower-earning spouse. This way, they can maximise the total household’s take-home pay without falling foul of the taxman. What is the Marriage Allowance? The Marriage Allowance is a tax perk for married couples and those in civil partnerships. It […]

19 May

Declaring SEISS grants on your Self Assessment tax return

The Self-Employed Income Support Scheme (SEISS) has been a lifeline to many sole traders during the coronavirus pandemic. Provided they’ve met the necessary criteria, these individuals have been supplemented with up to 80% of their average trading profits. However, these grants are taxable – meaning that they’re subject to income tax and National Insurance contributions […]

17 Aug

Relief for taxpayers as HMRC offers deferral on July payment

HMRC estimates that the move could boost cash flow for self assessment customers by £11.8 billion. The UK tax body HMRC is reminding taxpayers that anyone who has difficulty paying their second 2019/2020 self assessment payment on account can defer the payment until 31 January 2021. Around 2.7 million taxpayers are eligible for deferral, of which 1.3 million are self-employed. […]

15 Mar

Budget statement 2020

The new chancellor of the exchequer, Rishi Sunak, has been in post for less than a month following the resignation of his predecessor. He has been catapulted into the hot seat just as the government attempts to deal with the triple whammy of coronavirus, the effects of several major winter storms and the ongoing negotiations […]

7 Jan

It’s January – that means one thing! Self-Assessment Tax Returns

Self Assessment Tax due 31st January. HM Revenue and Customs (HMRC) must receive your tax return and any money you owe by the deadline. The last tax year started on 6 April 2017 and ended on 5 April 2018. Self Assessment Deadline Register for Self Assessment if you’re self-employed or a sole trader, not self-employed, or registering a […]

7 Nov

Budget 2018: 24 things you need to know

1. Public finances have reached a turning point Since 2009-2010 the deficit has fallen by four-fifths, from 9.9% to 1.9%. Public debt peaked in 2016-17 and is now falling. On average, spending on public services will grow 1.2% above inflation a year from next year until 2023-24. 2. Employment is at a near record high […]

15 Oct

HMRC calculators and tools

HMRC calculators and tools A list of HMRC calculators and tools to help you work out your tax. https://www.gov.uk/guidance/hmrc-tools-and-calculators Contents Income Tax National Insurance Self employed Self Assessment PAYE Employment status Stamp Duty Land Tax (SDLT) Capital Gains Tax Pensions Child Benefit and Child Trust Fund Childcare Tax credits VAT Corporation Tax Inheritance Tax and […]

3 Sep

Key Tax Dates for Autumn 2018

Key Tax Dates for businesses in Autumn 2018 including September, October, November and December September 2018 30: Reclaim VAT on supplies from other EU countries if not already claimed in your regular tax return. October 5: Deadline for registering income not fully taxed or any capital gains tax liabilities for the 2017/2018 tax year. 19: […]

18 Jun

Key 2018 tax dates for small businesses

JULY 2018 5 Agree Terms of HMRC PAYE Settlement Agreement for 2017-2018 6 Submit P11D (non payrolled only), P11D(b). Give copies to employees. Submit employee share sheme annual return for 2017-2018 19 Pay Class 1A NICs on 2016-2017 taxable benefits and award schemes 31 Second self-assessed tax instalment due. Additional surcharge on unpaid 2016/2017 income […]

5 Apr

National Minimum & Living Wage – April 2018

Are you 25 or over? If you are a worker aged 25 and over, and not in your first year of an apprenticeship, you are legally entitled to at least the National Living Wage. From 1 April 2018 this will go up to £7.83 per hour.Think you are being underpaid? Register a confidential complaint with HMRC. […]

Tax