Making Tax Digital for Income Tax

HMRC’s plans for making the self-employed and sole traders including landlords to keep accounting records electronically from 6th April 2023 continues to cause concern. From that date if you are a self-employed individual or sole trader with income from business …
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Making Tax Digital VAT

From April 2022, all VAT-registered businesses including those with turnover below £85,000 will be required to sign up for ‘Making Tax Digital for VAT’, meaning you will have to get one set up this year.
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Minimum Wage Record Keeping

The National Living Wage (NLW) increased from 1st April 2021 for those over 23 is now £8.91. National Minimum Wage (NMW) rates for younger age groups and apprentices have also increased. The record keeping rules for employers paying the national …
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VAT Deferred due to Coronavirus

If you deferred VAT last year due to Coronavirus, payment is now due by 31 March 2021. HMRC, have set up a new VAT Deferral Scheme and you can transfer any deferred VAT to the new scheme. You can pay …
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HMRC Self Assessment late filing penalty extension

HMRC have announced a further extension to payment of tax due from Self Assessment customers. Normally tax is due by 31st January however this was extended to 28th February in light of COVID. HMRC have now extended this further to …
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HMRC Self Assessment late filing penalty delay

HMRC have announced this week that self assessment returns sent in after the deadline of 31st January 2021 but before 28th February 2021 will not be charged a penalty. However, any tax due and unpaid by 31st January will incur …
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