by Ruth Clark | Nov 7, 2022 | HMRC, Tax, VAT
HM Revenue and Customs (HMRC) is reminding Self-Assessment customers that they must declare COVID-19 payments in their tax returns for the 2021 to 2022 tax year. More than 2.9 million people claimed at least one Self-Employment Income Support Scheme (SEISS) payment up...
by Ruth Clark | Oct 21, 2022 | HMRC, VAT
The VAT flat rate scheme is a simplified VAT scheme. It can potentially save a lot of work and may also save tax. However, it is not for everyone and, depending on the nature of the owner’s business, they might find themselves worse off. Nature of the scheme The...
by Ruth Clark | Oct 12, 2022 | HMRC, Tax
The changes to income tax rates are going to benefit all taxpayers from April next year as they get to keep more of the money they have earned. But one knock-on effect is that the amount of tax relief you can get on your pension will be reduced for both 20% and 45%...
by Ruth Clark | Sep 15, 2022 | HMRC
A claim for the additional household costs incurred when working from home rather than in an office has been possible for many years, but many employees and their employers have only been made aware recently due to the pandemic. The claim is made under the general...
by Ruth Clark | Sep 14, 2022 | HMRC, Tax
Self-assessment is an annual event, and it is always towards the back end of the year that you need to start thinking about it. Many people will already be registered for self-assessment, but there are others who will need to register for the first time this year,...
by Ruth Clark | Sep 7, 2022 | Business, HMRC
Dealing with PAYE is one of the main roles of any accounts department, and HMRC has been busy in this area over the past month, meaning there is plenty for businesses to know for the months ahead. One of the most pressing issues is that PAYE Settlement Agreements are...
