Entries by Taxfile

Back Taxes: Filing Late Tax Returns

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A  record 9.45 million Self Assessment tax returns were filed on time this year, and a record 7.65 million (80.9 per cent of them were filed online, as per HM Revenue & Customs (HMRC).This means that for the first time in seven years 90.4 per cent of taxpayers met the deadline – an increase of […]

Private tutors & coaches with undeclared tax liabilities

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The Tax Catch up Plan (TCP) is for people with any undeclared income, from tuition and coaching as a main or secondary income, on which the correct tax has not been issued. This is a great opportunity for a large number of South London residents who supply tuition in traditional subjects; instruction or coaching, fitness […]

Tax Health Plan (THP)

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The HM Revenue & Customs is offering a disclosure opportunity for medical professionals known as Tax Health Plan (THP). Under the plan, medical professionals have until 31 March 2010 to notify the HMRC that they will be making a disclosure of any undeclared tax bills. After which the full disclosure and payment of all outstanding […]

Ministers of religion and their allowable expenses

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There are certain expenses that you can claim as a minister of religion as long as they are incurred wholly and exclusively for the duties of the office or employment. • The cost of ministry journeys from one place of work to another. • Also allowable are related costs of accommodation and meals. • Maintenance, […]

31st January Deadline

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If you have not submitted your tax return to HM Revenue and Customs already, you must do it online by the end of this month. If HMRC receive your tax return after 31 January you will be liable for a late filing penalty of £100. But even if if you miss the deadline for your […]

PBR 2009 and the taxpayer

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The 2009 Pre-Budget Report was published on 9 December 2009. The Report covers a lot of issues but we will only focus on the ones affecting self employed individuals. According to the Pre-Budget Report 2009, the tax rates and thresholds for the year ended on 5th April 2011 will remain the same as the ones […]

31st October Deadline

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If you would like to send your tax return for the year ended on 5th April 2009 by paper, you would have to do it by the end of this month. Very important to remember is that the tax return has to reach HM Revenue & Customs by Saturday 31st October. If you send your […]