From April 2024 some self-employed individuals (sole traders) and partnerships will be taxed on profits calculated over a different time period to their accounting year. This is because new ‘basis period reform’ rules are being introduced which mean all self-employment and partnership profits will ...
HMRC have recently announced that they will NOT be answering any telephone calls to their Self Assessment helpline (0300 200 3310) between 12 June and 3 September 2023. The helpline will re-open on 4 September this year so taxpayers will be able to speak to an adviser prior to the deadlines ...
Although they are self-employed, Construction Industry Scheme (CIS) workers often have an amount deducted from their payments before they receive them. This is to cover their tax and National Insurance contributions (NIC). For many CIS workers the amount deducted will be too high, and they will be ...
Today, there are more gig workers than ever - with many now doing gig work as their primary source of income rather than a means of supplementing other income. Managing your tax position can be difficult at the best of times but we know that workers in the gig economy can find it extra ...
We have recently been made aware of some cases involving people who have used a tax agent/refund company to claim tax refunds on their behalf, typically through the Self Assessment tax return process. HMRC have now asked the individuals to repay the refunds they received. Most of these claims ...
HM Revenue & Customs (HMRC) are sending letters to businesses that might have misused their till systems, and as a result not paid the correct amount of tax. This is an opportunity for these businesses to get their tax affairs in order. We explain more about the letters and what to do if you ...