HMRC
Have you used your capital allowances this financial year?
Mar 19, 2024
With 5 April fast approaching, the pressure is on to make sure that you’ve used all capital allowances available to you in this tax year to reduce your tax bill. For business owners, there are a number of tax reliefs you ...
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HMRC U-turns on its double cab pickups tax decision
Feb 20, 2024
HMRC surprised all taxpayers who own a double cab pickup as a company vehicle on 12 February by announcing that these vehicles would be classified as cars and not vans, which would have led to higher National Insurance Contributions (NICs) ...
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HMRC reminds restaurants and takeaways of VAT obligations on hot food
Dec 12, 2023
HM Revenue & Customs (HMRC) has recently issued letters to restaurant and takeaway businesses across the country, emphasising the importance of correctly applying VAT on hot food. This move comes amidst potential confusion amongst business owners regarding the varying VAT rates ...
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How to use the new HMRC app for your tax returns
Nov 23, 2023
For small businesses navigating the Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) initiative, tax returns can be complex. The new HM Revenue & Customs (HMRC) app seeks to make the process easier, however. The digital tool marks a significant shift ...
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What business owners need to know about meeting PAYE deadlines
Oct 17, 2023
Among the long list of financial responsibilities that you must handle as a business owner is ensuring PAYE are made on time. In October 2023, the electronic payment deadline for your PAYE tax bill falls on Sunday, 22 October. To ...
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How HMRC’s new online tools can help you simplify taxation
Oct 04, 2023
HM Revenue and Customs (HMRC) has always been at the forefront of embracing technological advancements to make tax-related processes more straightforward for businesses and individuals. Recently, HMRC has rolled out a series of new online tools aimed at simplifying various tax-related ...
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Closing on the inaugural Economic Crime Levy payment – What you need to know
Sep 19, 2023
As we approach the end of September, businesses across the UK are gearing up to meet the inaugural deadline for the Economic Crime Levy (ECL) payment. HM Revenue & Customs (HMRC) has enabled this process by launching an online payment service, ...
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How businesses can navigate and avoid tax disputes with HMRC
Aug 01, 2023
Tax disputes can be a significant drain on resources for any business, and with recent data suggesting that over 60 per cent of businesses are currently embroiled in a tax dispute with HM Revenue & Customs (HMRC) that has lasted ...
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New HMRC service allows businesses to set up online payment plans for VAT owed
Jun 13, 2023
HM Revenue & Customs (HMRC) have recently confirmed that businesses that owe less than VAT £20,000 can now set up a payment plan online. The measure, which came into effect on 31 May 2023, is part of a wider project from ...
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Self-Assessment taxpayers warned of next payment deadline
Mar 01, 2023
Taxpayers have been reminded that a penalty deadline for unpaid Self-Assessment tax is imminent. HM Revenue & Customs (HMRC) will automatically add a penalty to your tax bill equal to five per cent of the Self-Assessment tax you owe for 2021/22 ...
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