The deadline for sending most online 2022/23 self assessment tax returns to HMRC, and for paying the related tax, is 31 January 2024. If this deadline applies to you, make sure you file your 2022/23 tax return online and pay any tax you owe by 31 January 2024 to avoid penalties and interest.
Clause 36 is a regulation-making power which allows for the new penalty regime on late filing and late payment to be brought into effect for income tax from 6 April 2024, with adaptations for those volunteering for the Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA) pilot.
Clause 16 and Schedule 10 change the current rules for reporting information on self assessment tax returns for most unincorporated businesses. The aim is to allow more sole traders and partnerships to be eligible to use the cash basis rather than the accruals basis (also known as traditional ...
Despite ongoing efforts by tax professionals up and down the land, we are still seeing a large amount of confusion about the ‘new’ side hustle tax reporting rules for online platforms. There is no new tax on side hustles. Here, we reiterate the main things you need to know, provide a new flowchart ...
The Scottish Government is undertaking an inquiry into how the Social Care (Self-directed Support) (Scotland) Act 2013 has worked since it came into force. LITRG have submitted some comments focusing on the employment status of PAs.
Clause 32 and Schedule 13 introduce a new power, which allows His Majesty’s Revenue and Customs (HMRC) to apply to the court for a disqualification order. This is in relation to directors and other persons who control or exercise influence over a company involved in promoting tax avoidance and ...