Reforms to the tax system, which will come into force by 2023, make it easier for small businesses to fill out their returns. Businesses will be taxed on profits arising in a tax year, rather than profits of accounts ending in the tax year. It should help them spend less…
Normally, late filing penalties are applied to all returns filed after the 31 January deadline. Those penalties are cancelled if the customer has a reasonable excuse for filing late. However, this year HMRC is not issuing late filing penalties for a month to help taxpayers and agents who are unable to meet…
If you decide to find a new accountant to prepare your Income Tax Self Assessment, the end of December would be a tough period. This time of the year Christmas is our national priorities, not taxes. The shopping fever, office Christmas parties, wrapping paper and gifts take over our minds.…