Paying Your Tax By Direct Debit Monthly
People owe debt to HMRC for a variety of reasons and the best payment solution differs from individual to individual. HMRC takes its responsibility seriously to make sure that people who can pay do so on time, whilst providing extra, bespoke support to people facing financial hardship or in personal difficulty. If you’re facing difficulty…
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Tax Scams in the Pandemic
A Freedom of Information request from the firm has revealed taxpayers reported 9,948 Covid-related scams to HMRC between January and June. Activity peaked in May, with 5,048 incidents explicitly mentioning Covid, then proceeded to fall by over 55% to 2,495 in June. The total number of all phishing scams reported to HMRC was 44,777 in…
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Coronavirus Job Retention Scheme Compliance Letters
The first wave of compliance letters regarding the Coronavirus Job Retention Scheme (CJRS) were issued last week as HMRC moves into the post transaction review phase of the scheme. The first batch of letters started to land on doormats from Wednesday 18 August. HMRC will be asking questions where they have concerns over the validity…
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Furlough Scheme who is eligable
HMRC will set up a new online coronavirus job retention scheme/furlough portal, due to launch on 20 April 2020, so that ALL UK employers this month, regardless of size, will be eligible for assistance where an employee has been designated as a ‘furloughed worker.’ HMRC will reimburse 80% of furloughed workers wage costs, up to…
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Scottish Tax Payers
However, it will freeze the higher and additional rates so that there is increasing divergence between Scottish and rest of UK taxpayers. The Scottish Budget was delayed from December after the UK general election was called and had to be held before the UK Budget on March 11 due to legal requirements to set council…
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VAT an Overview
Value Added Tax (VAT) VAT is a tax on sales and has nothing to do with profit. The current registration limit is £85,000 so once your sales reach £83,000 the last 12 months you must register for VAT immediately. This can be done by downloading the form from HM Revenue & Customs website or completing…
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Tax Return deadlines
Tax Return If you been sent a notice to complete a self-assessment income tax return you have until 31 January every year to get this submitted to HM Revenue & Customs or you will incur late filing penalties depending how long this is outstanding for. Late Filing Penalties Up to 3 Months £100.00 if it…
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Tax Returns and The Fines
Tax Return If you been sent a notice to complete a self-assessment income tax return you have until 31 January every year to get this submitted to HM Revenue & Customs or you will incur late filing penalties depending how long this is outstanding for. Late Filing Penalties Up to 3 Months £100.00 if it…
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