by yasiradnan94 | Aug 15, 2022 | Advice, Tax planning
The government introduced the requirement for individuals to report disposals of UK residential property and pay any capital gains tax (CGT) due within 60 days of completion on 6 April 2020. HMRC has clarified a CGT property return must be filed even if the disposal...
by yasiradnan94 | Mar 9, 2021 | Contractors, Financial planning, News
HMRC has announced that self assessment customers will not be charged a the initial 5% late payment penalty if they pay their tax bill or make a time to pay arrangement by 1st April 2021. The deadline to submit the tax return and pay any tax owed was 31st January...
by yasiradnan94 | Oct 28, 2020 | Accounting, Business, Financial planning, News, Small Businesses, Tax planning
For business owners, 2020 has been a year of unexpected and unprecedented challenges. Whilst we are all experiencing difficulties we’d never have anticipated before March, some things never change…self assessment season is just around the corner again. The...
by yasiradnan94 | Jan 22, 2020 | Accounting, Advice, Contractors, FAQs, Financial planning, Tax planning
The first instalment of your self-assessment tax bill for the 18/19 tax year is due on 31 January 2020. Each year the self-assessment tax bill due by 31st January includes an amount payable known as a payment on account. This amount is 50% of the tax bill taken in...
by yasiradnan94 | May 16, 2018 | Accounting, Advice, Business, Financial planning, News, Tax planning
A very common question for most business owners is whether or not they can claim tax relief on clothing. The basic principle for an expense to be allowed is that it must be incurred wholly and exclusively for business, i.e. for work purposes. HMRC’s Stand Point...
