Starting a new business can be both an exciting and daunting time. There are many things to think about, including what you need to do to prepare your business accounts and tax return. This article briefly explains what you can do now to help simplify your future tax, in view of two major ...
If you disagree with a decision HMRC have made about your taxes – such as issuing a penalty – you usually have a legal right to ask a different person to review that decision. If you are unhappy with the outcome of that review, you can appeal to a Tribunal to ask a judge to consider your case. We ...
The Low Incomes Tax Reform Group (LITRG) is reminding trustees that most trust arrangements need registering with HMRC’s Trust Registration Service (TRS) by 1 September 2022.1 LITRG is concerned that this could catch people out, especially as a trust can exist without those involved ...
If you work from home, you may be worried about increasing energy bills. However, there are some tax and benefit rules that might help ease some of the cost for you.
Tax credit awards last for a maximum of one tax year (6 April to following 5 April) so you must renew your claim each year to continue getting tax credits. The deadline for renewing tax credits was 31 July. If you did not renew by that date, HMRC will now stop your tax credit payments. If this has ...
The cost-of-living crisis has seen an explosion of suggestions as to how to make some extra money to help make ends meet. But the tax consequences often get little or no mention! You must be on top of your taxes from the start so that you don’t accidentally miss an important deadline or make a ...