There were a record number of fraudsters targeting taxpayers with scam emails, texts and calls in the run up to the deadline for submission of self-assessment returns for 2020-21. HMRC received more than 570,000 reports over the last year about suspicious HMRC contacts. You may have received a call too? The scams were telling taxpayers […]
Scammers are targeting self-assessment taxpayers Read More »
In the UK, there are regulatory filing requirements for company accounts. The Companies Act 2006 (CA 2006) requires that a company files its accounts and reports with the Registrar of Companies within certain time lines. Private companies must file within nine months of the end of their accounting reference period and Public companies must file
As bookkeepers, we carry out anti-money laundering checks to all new clients that we provide support to ensuring our clients are not attempting to launder money through their business. An anti-money laundering check is a vital component of ensuring our clients are not attempting to launder money through their business. Anti-money laundering refers to a
The Coronavirus Statutory Sick Pay Rebate Scheme was brought back in mid-January with firms becoming eligible to make back dated claims under the scheme from the 21st December 2021. The scheme allowed small and medium-sized businesses and employers reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19. The scheme covered up to two
Coronavirus Statutory Sick Pay Rebate Scheme Closing Soon Read More »
Did you know? If you are working from home, you may be able to claim tax relief for some of the bills you pay related to your work. Employees can be reimbursed by their employers for any additional household expenses incurred through regularly working from home. This relief covers expenses such as business telephone calls,
HMRC has announced that late filing penalties will be waived for taxpayers that file their 2020-21 Self-Assessment returns by 28 February 2022. The due date of 31 January 2022 remains and HMRC is still encouraging taxpayers to try and meet this deadline. Taxpayers should try and pay their tax bill by 31 January 2022 otherwise
Did you know that some businesses or self-employed people may be eligible to receive support with when and how they pay their tax through HMRC’s Time To Pay service. An online payment plan for Self-Assessment tax bills can be used to set up instalment arrangements for paying tax liabilities up to £30,000. Taxpayers that qualify for
Completing a self-assessment return can be for a number of reasons such as you are self-employed, a company director, have an annual income over £100,000 or have an income from savings, investments or property. Individuals that need to complete a self-assessment return for the first time should inform HMRC as soon as possible. The latest
We prepare many year-end accounts for our clients and there are a number of administration and financial tasks that need to be done before we can help. It’s best to start planning for this as soon as possible. We want to make sure that your year-end accounts process is as hassle-free as possible for the
If you are a sole trader, you run your own business and you are known as self-employed by HMRC. As a sole trader, you are responsible for any losses your business makes, however you can keep all your business’s profits after you have paid tax on them. The first step to becoming a sole trader