The tax late submission penalties system explained
Posted by Karen Jones on January 12, 2024Did you know about HMRC’s tax late submission penalties? We explain how the points-based system works.
Married? Here’s how to reduce CGT bills
Posted by Karen Jones on December 21, 2023If you are married or in a civil partnership, there’s a simple way to reduce your CGT bills. We take a look at how it works.
Do I need to submit a tax return?
Posted by Karen Jones on December 6, 2023Do you need to submit a tax return? We take a look at the current rules to determine whether you need to submit a self assessment Tax Return to HMRC.
Domestic Items Relief and Landlords
Posted by Karen Jones on November 29, 2023Understanding when domestic items relief can be claimed is important as it determines whether a cost is tax-deductible or not.
£217m income tax rebates unclaimed – are you missing out?
Posted by Karen Jones on November 27, 2023Millions of pounds worth of income tax rebates remain unclaimed. Have you missed out on an income tax rebate?
Owed a Marriage Allowance rebate? You may lose out if you don’t claim by April
Posted by Karen Jones on November 22, 2023Married or in a civil partnership? You could be owed a large Marriage Allowance rebate from HMRC. Don’t miss out; make sure you claim soon.
Late tax penalties: changes to late submission & payment schemes
Posted by Karen Jones on October 30, 2023HMRC is introducing new late tax penalties. They will cover late tax submissions and late payments – and the introduction dates have changed.
Most Self Assessment Tax Returns are handled by Accountants for good reason
Posted by Karen Jones on October 2, 2023Innocent errors on a tax return can be a red flag for HMRC and may well draw unwanted attention to the taxpayer. Engaging an accountant can help.
Central assessment of VAT – changes to HMRC’s process
Posted by Karen Jones on September 28, 2023When you miss a VAT return, HMRC does a central assessment of VAT. Changes to the system mean it’s more important than ever to file on time. If you don’t, it may be more likely you’ll experience enforcement action.
Private Residence Relief for CGT – how does it work?
Posted by Karen Jones on September 11, 2023If you sell your main home, Private Residence Relief (PRR) means you normally don’t pay Capital Gains Tax. But there are exceptions!
