More people are using online platforms to sell goods to make some money. There are different tax rules depending on whether you are trading, making some casual income, or just selling off unwanted personal items. But what if you are doing a mixture of activities? This article explains what type of ...
Some tax refund companies use the self assessment tax return system to make claims for tax refunds for people. If you have had a tax refund arranged by a tax refund company in the past and now find yourself with a 2022/23 tax return late filing penalty, the two issues may well be linked. Here we ...
If you have a loan charge bill that you can’t afford to pay in one go, you may immediately think of asking HMRC if you can spread the payments over a period of time. The most common way to do this is through a Time to Pay arrangement. This is an agreement made with HMRC’s Debt Management section. ...
The OECD Reporting Rules for Digital Platforms started in the UK on 1 January 2024. These rules mean that digital platforms may need to collect and verify information about sellers of goods and services. They may also need to report this information to HMRC by 31 January for the previous calendar ...
The change to the new ‘tax year’ basis (also known as basis period reform (BPR)) from the 2024/25 tax year onwards means that 2023/24 is a transitional tax year as we move to the new rules. This means the 2023/24 tax return will be more complicated than usual for affected sole traders and partners ...
HMRC are introducing evidence requirements for claims for tax relief on employment expenses. These requirements come into force on 14 October 2024. As a result, HMRC are also making changes to the process for claiming tax relief on employment expenses. This is to try to ensure HMRC only pay tax ...