Important updates to Making Tax Digital and late payment rates you might have missed in the Spring Statement
This week’s Spring Statement brought two announcements that will matter to anyone running their own business or earning income from property.
Are you prepared to spot scams this Self-Assessment season?
We are getting ever closer to 31 January 2025 and the Self-Assessment tax return deadline, so businesses and individuals are being urged to stay vigilant against a surge in tax-related scams.
Earning between £100,000 and £150,000? Your tax return is changing
If you’re a high earner with between £100,000 and £150,000 in net adjusted income, you’ll soon receive a letter from HM Revenue & Customs (HMRC) regarding whether you need to continue submitting a Self-Assessment tax return.
Making MTD for ITSA easier for landlords
Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) represents a significant shift in how individuals, including landlords, must report their income and manage their tax affairs.
Five Self-Assessment deductions you didn’t know you could claim
With the Self-Assessment deadline passing on 31 January, it’s clear that many sole traders and business owners aren’t using allowable expenses and deductions to their full potential.
Tightening the reins on ‘side hustles’ – Navigating HMRC’s new powers
HM Revenue & Customs (HMRC) is now using new powers granted to them by the Government to target a key area of tax evasion – online traders.
100 days until the Self-Assessment deadline: Are you ready?
We are now only 100 days away from the Self-Assessment tax deadline on 31 January 2024.
Secure your financial future – Plan ahead and send Self-Assessment returns early
Recent data from HM Revenue and Customs (HMRC) reveals a significant trend – an increasing number of UK taxpayers are filing their Self-Assessment tax returns within the first week of the new tax year.
How HMRC’s new online tools can help you simplify taxation
HM Revenue and Customs (HMRC) has always been at the forefront of embracing technological advancements to make tax-related processes more straightforward for businesses and individuals.
Self-Assessment benefits for small businesses
As a small business owner, you are probably familiar with the term ‘Self-Assessment’. While many entrepreneurs link Self-Assessment primarily with the yearly tax ritual, it offers a lot more.