HM Revenue and Customs (HMRC) today announced that just over 3 million customers are yet to complete their 2016 to 2017 returns with only one week to go before the 31 January deadline. Continue reading A third of tax returns are outstanding a week before deadline
Local small businesses are being urged not to miss the 31st January deadline to complete their online tax returns, or they could face hefty fines. Continue reading Make a New Year resolution to tick off your tax return and avoid hefty fines, warns local tax specialist
Business owners should prepare for spot checks on their staff pension schemes, a local tax specialist has warned. Continue reading Business owners should prepare for pensions spot checks, warns local tax specialist
The Government’s forthcoming Finance Bill will give welcome clarity to business owners on the move to quarterly tax reporting, according to a local specialist. Continue reading Finance Bill will bring ‘welcome clarity’, says local specialist
Local business owners who take on temporary workers over the next few months are being warned not to let paperwork oversights give them the summertime blues. Continue reading Don’t let holiday workforce give you the summertime blues, local business owners warned
A local tax specialist is urging small businesses to spring clean their finances as they tackle a raft of changes from this April.
Alan Johnston, who runs TaxAssist Accountants in Goldenacre, said: “Although the Government has now decided not to increase National Insurance contributions for self-employed people following a major backlash, other announcements in the Spring Budget added to a long list of changes and new responsibilities for small businesses. We want to ensure that local business owners make the most of all relevant tax breaks and don’t get caught out by the new rules.
“Although some of the changes, such as reduced dividend tax allowance for director-shareholders, will not start until next year, there are significant challenges for local business owners which come into force from April this year.”
Key changes from April 2017 include:
TaxAssist Accountants Goldenacre is a local business providing tax and accountancy advice and services purely to small businesses.
Ten of the most terrible excuses for missing the 31 January tax return deadline have been revealed today by HM Revenue and Customs (HMRC).
Many of the excuses claim it was someone else’s fault – pets, girlfriends, work colleagues and even the President of the United States are named and blamed for taxpayers’ tardiness!
The excuses were all used in unsuccessful appeals against HMRC penalties for late filing and payment. Here’s the full list:
HMRC Director General of Personal Tax, Ruth Owen, said:
“People can have a genuine excuse for missing a tax deadline, but owning a pet with a taste for HMRC envelopes isn’t one of them.
“You need to file your 2013/14 tax return online, and pay what you owe, by 31 January. But it’s best to do it now, to allow plenty of time to sort out any issues with your return. That way, you’ll avoid the busy period for our phone lines as the deadline approaches”.
All outstanding 2013/14 tax returns must now be submitted online, as the 31 October paper-filing deadline has passed. To send an online tax return, you must be registered for HMRC Online Services. This involves HMRC sending you an Activation Code in the post, and you need to allow 10 days for it to arrive.
Simple, straightforward advice on Self Assessment can be found at HMRC’s new Facebook page.
Help and advice on filing your return – including how to register for online filing – is also available from the GOV.UK website or the Self Assessment helpline on 0300 200 3310 (open 8am to 8pm, Monday to Friday, and 8am to 4pm on Saturday).
