HMRC plans to review FHL declared income

Due to the increase in staycations, it is anticipated that HMRC will look at self-assessment returns declaring Furnished Holiday Lettings income to see that income reflects the recent boom in UK holidays and the substantial increases in the cost of …
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Making Tax Digital for Income Tax

The start date for HMRC’s plans for making the self-employed, sole traders including landlords keep accounting records electronically has been delayed. The new start date is 6th April 2024. From that date if you are a self-employed individual or sole …
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VAT Rate Change for the Hospitality Sector

The reduced rate of VAT offered to the hospitality sector as part of the governments business support during Covid. The current reduced rate of 5% changes to 12.5% from 1st October 2021. This rate will be available until 31st March …
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HMRC Month To Date (MTD) Income Tax

HMRC are planning to introduce MTD for income tax from 6th April 2023 for unincorporated businesses. In the initial proposals your business would have had to start following the rules from the beginning of the accounting period starting on or …
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VAT deferred due to Coronavirus

VAT deferred in 2020 due to coronavirus was payable earlier this year or you should have joined the online payment scheme before 21/06/21. If you did neither, payment must be made by the end of this month to avoid a …
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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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