We mark the new year slightly later in the tax world. Here we take a look at the biggest factors that will make an impact to you and your business.
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Unless you are an accountant, a tax return is not something you will complete regularly enough to know how to do blindfolded. Luckily we do - although we don’t do it blindfolded so its easy for us to spot these common things that are left off of a tax return.
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Keeping good records to support your business is essential. It doesn’t have to be anything fancy - but it is important to have a system in place to ensure your recordkeeping is up to date, clear and accurate. Here we highlight our key reasons why you should - and more importantly how to keep good financial records.
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Avoid an automatic late filing penalty by ensuring your tax return is filed by 31st January. Our advice? Don’t leave it till the last minute and follow these handy tips to get everything in order.
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Filing your tax returns close to the deadline can be the difference between it being fine and incurring a fine. We encourage our clients to file their tax returns well in advance of the filing deadline to avoid mistakes and incurring charges. Here are our seven key reasons why you should get your tax return prepared and filed sooner rather than later.
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From April 2019, HMRC will only accept records submitted by an approved digital platform. Don’t get caught out by leaving it to the last minute.
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Those working in the entertainment industry have been previously been treated as employed for National Insurance and self-employed for tax, meaning that NI is automatically deducted from your pay at source.
From 6th April 2014, this will stop and both the NI and Tax treatment of income will be in line with the self-employed. This means that you will now pay Class 2 and Class 4 NI instead of Class 1 NI.
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