LATEST POSTS
- Information You Need to Supply for Professional Help with Your Tax Return
- Tax Refunds After Redundancy: Claiming Your Cash Back – A Taxfile Guide
- Decoding IR35: Your Guide to Contractor Tax Status
- UK Landlords: Is Your Portfolio Ready for the Digital Tax Revolution? (Making Tax Digital for Landlords)
- Companies House ID Verification 2025: A Director’s Guide to the New UK Rules
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SE21 8JP.
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Time for ‘tax year end planning’ (pre-Budget)
/in Accountancy, Accountants, Advice, Capital gains tax, CGT, Investments, ISAs, Key dates, London, South London, Tax, Tax accountant, Tax accountants, Tax advice, Tax advisers, Tax agents, Tax allowance, tax experts, Tulse Hill/by MarkThe budget will take place on March 19th 2014 so that gives us all just 5 weeks (at time of writing) for ‘tax year end planning’. So perhaps now is the time to start reviewing investments. N.B. We’re not financial advisers (we are tax agents and accountants) so we can’t give advice on investments. But […]
New opening hours for Feb-March
/in Accountancy, Accountants, Tax accountant, Tax accountants, Tax advice, Tax advisers, Tax agents/by MarkPlease note that Taxfile’s opening hours for February and March 2013 are: Mondays & Tuesdays: 9.00am-6.00pm Wednesdays & Thursdays: 9.00am-5.00pm Fridays: 9.00am-3.00pm Saturdays & Sundays: closed (answerphone service) Please contact us if you need accounting help or tax-related assistance.
It’s official: thousands are on the wrong tax code!
/in Advice, Deadline, Employee, Filing deadlines, HM Revenue and Customs, HMRC, Income tax, Inland Revenue, Inspector of taxes, Key dates, Late return, London, Pay-as-you-earn, PAYE, penalties, penalty, Rebate, Self-assessment, South London, Tax, Tax accountant, Tax accountants, Tax advice, Tax advisers, Tax affairs, Tax agents, Tax bill, Tax code, Tax determination, tax experts, tax inspector, Tax liability, tax office, Tax return, Tax returns, Taxes, Taxfile, Taxman, taxpayer, Taxpayers, Tulse Hill/by MarkWith the tax return deadline being only hours away (midnight 31 January 2014) there is still time to get professional help if you need it – particularly because HMRC often get it wrong according to new research by UHY Hacker Young. In just one example, HMRC sent a tax bill to a pensioner which demanded […]
‘Employment Allowance’ to save businesses up to £2k in NIC
/in Employee, Employer, Employment allowance, National Insurance, NIC, NIC's, Tax, thresholds/by MarkIn April 2014 the new ‘Employment Allowance’ will be introduced. This will cut up to £2k off the National Insurance costs incurred by businesses and save employers nearly £5.5 billion across the UK as a whole by the end of the Parliament. This equates to £200 per UK employee. These savings will also be helped […]
HMRC’s fight against tax avoidance is bearing fruit
/in Chancellor's Autumn Statement, HM Revenue and Customs, HMRC, Information sharing, Inland Revenue, Tax, Tax fraud, Taxes, Taxman, Undeclared income/by MarkHMRC has reported that it raised an extra £20.7 billion in additional revenue during the financial year 2012-13, a result of its continued push on tax compliance and anti-avoidance measures. That’s an increase of £2.1 billion on the preceding year and is actually £2 billion above its original target. This information comes hot on the […]
Tax return help 7 days a week!
/in Advice, Deadline, Filing deadlines, HM Revenue and Customs, HMRC, Online returns, penalties, Self-assessment, Tax accountants, Tax advice, Tax return, Tax returns/by MarkBy midnight on 31st January 2014, you will need to have submitted your self-assessment tax return to HMRC and have paid them any tax due for the 2012-13 financial year. It doesn’t matter if you have zero tax to pay – you still need to submit your tax return on time or you will be […]
Autumn Statement by the Chancellor of the Exchequer
/in Accountancy, Accountants, Buy to let, Capital gains tax, CGT, Chancellor's Autumn Statement, Dulwich, Employee, Employer, IHT, Income tax, Inheritance Tax, ISAs, Land and property, Landlords, Lettings, Lettings income, London, Married couple's allowance, National Insurance, NIC, NIC's, Non-domiciled residents, Non-resident, Personal allowance, property investor, residency, savings income, South London, Tax, Tax accountant, Tax accountants, Tax advice, Tax advisers, Tax agents, Tax allowance, tax experts/by MarkOn 5 December 2013 George Osborne, Chancellor of the Exchequer, gave his Autumn Statement in Parliament. Key announcements included: A rise for the Personal Allowance, as was long-anticipated, to £10,000 in 2014/15; the higher 40% tax rate threshold also increasing to £41,865; A new, transferable, tax allowance of £1,000 for married couples and those in […]
Assets hidden offshore? Not for long!
/in Disclosure, Higher rate tax payers, HM Revenue and Customs, HMRC, Income tax, Information sharing, Inland Revenue, Non-domiciled residents, Tax, Tax determination, Tax fraud, tax inspector, Undeclared income/by MarkFinancial information sharing now reaches the Cayman Islands, Isle of Man, Jersey and Guernsey. On November 5th, Her Majesty’s Revenue & Customs (‘HMRC’) announced that the Cayman Islands had joined the ever-growing list of offshore territories which will now automatically share financial information with them in respect to UK taxpayers who may have accounts there. […]
HMRC now has landlords in their sights
/in Accountancy, Advice, Buy to let, Capital gains tax, CGT, Disclosure, HM Revenue and Customs, HMRC, Income tax, Inland Revenue, Land and property, Landlords, Lettings, Lettings income, penalties, penalty, Principal Private Residence, property investor, South London, Tax, Tax advice, Tax advisers, Taxes, Taxman, Undeclared income, Value Added Tax, VAT/by MarkHMRC (Her Majesty’s Revenue & Customs) has announced some new initiatives over the course of the last month and one of these is The Let Property campaign which is a campaign designed to recover undeclared tax from those receiving income from residential property lets. The idea is to encourage those landlords with under-declared income or […]
New tax break for married couples
/in Accountancy, Advice, Income tax, Married couple's allowance, Tax, Tax allowance/by MarkIn this recently filmed interview David Cameron said: “Marriage is a great institution and it helps to build good and strong societies so I think it’s right to back marriage properly in the Income Tax system – most other advanced industrial countries do and it and we should do it too.” So on the eve […]