Tax News

Time to Pay arrangement

Time to Pay arrangement

Date posted: 9th Jan 2023

Taxpayers unable to settle their tax liability on time may be able to make a Time to Pay arrangement with HM Revenue and Customs (HMRC). Self-Assessment  If you…

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Tax Return deadline – 31 January 2023

Tax Return deadline – 31 January 2023

Date posted: 9th Jan 2023

The deadline for completing your 2021/22 self assessment tax return is 31 January 2023. If the tax return is not completed prior to this date, you will receive…

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Transferring assets between spouses

Transferring assets between spouses

Date posted: 25th Nov 2022

Although spouses and civil partners are taxed independently, there are some tax breaks available. One of these is the ability for spouses and civil partners to transfer assets…

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New VAT penalty regime from January 2023

New VAT penalty regime from January 2023

Date posted: 25th Nov 2022

The current VAT default surcharge system will be replaced, in January 2023, with a new penalty based points system for all VAT returns that are either submitted late or…

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Buy to let property companies – good idea?

Buy to let property companies – good idea?

Date posted: 24th Nov 2022

Tax changes in recent years to the way that unincorporated landlords are treated for tax purposes, particular in respect to relief for interest, have resulted in an increase…

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Tax free travel to work is possible

Tax free travel to work is possible

Date posted: 24th Nov 2022

As the cost-of-living crisis deepens, many employees are looking to save money. One option is to cut the cost of the commute by cycling to work, which can…

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HMRC determinations – what are they and how can they be cancelled?

HMRC determinations – what are they and how can they be cancelled?

Date posted: 24th Nov 2022

HMRC can issue a determination when a taxpayer has failed to submit a tax return. The determination is HMRC’s formal calculation of tax that it calculates as being…

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Corporation tax rates – where are we now?

Corporation tax rates – where are we now?

Date posted: 24th Nov 2022

The past 18 months or so have seen a planned increase to corporate tax, then the abolishment of the planned increase to corporate tax and then the abolishment…

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Undeclared income or gains – it’s time to come forward.

Undeclared income or gains – it’s time to come forward.

Date posted: 24th Nov 2022

We are noticing a lot more in the professional press about HMRC issuing nudge letters to taxpayers in respect of potential errors on their tax returns. HMRC have…

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Spreading your 2021/22 tax bill – how can you achieve this?

Spreading your 2021/22 tax bill – how can you achieve this?

Date posted: 24th Nov 2022

As we head towards the festive period, a lot of people may focus on completing their tax returns over the festive period or gathering information to complete this…

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