Small and medium-sized enterprises (SMEs) that do not use Making Tax Digital (MTD) for VAT make more errors than those that do, a major study has revealed. The research, published by HM Revenue & Customs (HMRC), comes before the introduction of ...
READ MOREIf you are planning on treating staff this Christmas, here’s a brief guide to the tax rules for the 2021/22 financial year. Do gifts count as taxable income? Christmas presents paid in cash to staff qualify as taxable earnings, which means they ...
READ MORETens of thousands of self-employed workers have used HM Revenue & Customs’ (HMRC) Time to Pay service to spread out tax bills, the latest figures have revealed. The Time to Pay facility has offered a lifeline to those who may struggle ...
READ MORETo many, cryptoassets, which includes cryptocurrencies, are an enigma shrouded in mystery. Whether we are talking about Bitcoin, Dogecoin, Litecoin, blockchain or mining, most people will not have a clue. But for those who have dabbled in the market, it’s important ...
READ MORENearly 800,000 tax-related scams were reported to HM Revenue & Customs (HMRC) in the past 12 months, a major study has revealed. The figures come as the tax authority prepares to send millions of emails and text messages to taxpayers ahead ...
READ MORETraders who have sold or exchanged cryptocurrency may be required to pay Capital Gains Tax (CGT), HM Revenue & Customs (HMRC) has warned. It comes after the tax authority wrote to holders of cryptoassets, such as Bitcoin, reminding them of their ...
READ MOREControversial changes to the basis period rules will be pushed back to 2024, the Government has announced. Critics said the reforms would needlessly burden businesses in the wake of the coronavirus pandemic and ahead of the introduction of Making Tax Digital ...
READ MOREIf you are, then keep reading... From today, you have less than a week to submit paper tax returns for the 2020/21 tax year before the deadline on Sunday 31 October. Those submitting online tax returns, you have 98 days! For the 31 ...
READ MOREMaking Tax Digital (MTD) for Income Tax will be delayed until April 2024, the Government has confirmed. It means self-employed business owners and landlords will have one more year to prepare for the digitalisation of Self Assessment. According to HM Revenue & ...
READ MOREIf you’re new to business, year-end accounts may seem like a daunting prospect. But with the right preparation, advice and approach, you will have nothing to worry about. In this blog, we’re going to look at what year-end accounts are when ...
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