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- 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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Disability Living Allowance
/in Child tax credits, Disability living allowance, DLA, HMRC, Income support, pension credit, South London, Tax agents, Tax credits/by TaxfileDisability Living Allowance (DLA) is a tax-free benefit for people under 65, including children, who have normally care needs or encounter problems getting about. Disability living allowance (DLA) is paid at different rates depending on how your disability affects you. There are two types of disability living allowance:one is the care component and the other […]
Taxfile: Scholarship Income
/in Accountancy, Employee, Employer, HMRC, London, scholarship income, South London, Tax, Tax accountant, Tax advice/by TaxfileBy scholarship we mean an exhibition, bursary or any other similar educational endowment. If the holder of the scholarship is receiving full-time education at a university, college or school then the income from the scholarship is exempt from tax. The rate of payment including lodging, subsistence and travelling allowances is now £15,480 a year, £1,290 […]
Vat Flat Rate Scheme
/in Capital assets, Flat rate scheme, HMRC, South London, Tax accountant, Value Added Tax, VAT/by TaxfileThe VAT flat rate scheme was introduced on 24th April 2002 and was designed to assist small businesses through calculating VAT payments as a percentage of their turnover. This scheme was developed to reduce the cost of complying with VAT obligations and the time spent by removing the need to calculate and record output and […]
Maintenance Payments Relief
/in Alimony, Capital gains tax, Child support, Maintenance Payments Relief, South London, Tax bill, Tax relief, Tulse Hill/by TaxfileOur blog today is dedicated to some of our clients who wanted to know more about tax relief on alimony or child support payments.This relief is officially known as Maintenance Payments Relief. Maintenance Payments Relief can reduce your tax bill if you make maintenance payments to your ex-spouse or former civil partner or child. If […]
Tax Enquiries: Guilty Until Proven Innocent!
/in HMRC, Self-assessment, Self-employed, South London, Tax, Tax accountant, Tax enquiry/by TaxfileAn enquiry is defined as seeking information, asking, questioning. Self Assessment is a process now/check later regime. According to HMRC,enquiries encompass all work carried out to check returns after processing – from a single enquiry about one entry in a return to a detailed examination of all the taxpayer’s affairs. Under Self Assessment, taxpayers have […]
2008 Pre-Budget Report
/in Accountants, HMRC, Income tax, NIC, pension credit, Personal allowance, SME, State Pension, Tax, Tax credit, VAT/by TaxfileIn his 2008 Pre-Budget Report speech on 24 November, the Chancellor has set out his actions for supporting people through the difficult times of the current global financial crisis. Among the most important changes to do with tax, VAT and benefits, we can mention the following: •Personal tax allowance increases to £6475, and the basic […]
Statutory Maternity Pay (SMP)
/in Accountants, Employee, Employer, HM Revenue and Customs, HMRC, Maternity Allowance, Statutory Maternity Allowance (SMA), Tax/by TaxfileIf you are expecting a baby, you might be entitled to Statutory Maternity Pay (SMP)to help you take time before and after the baby is born. This is a weekly payment from your employer. Payments of SMP count as earnings so your employer will deduct tax and National Insurance contribution in the normal way. In […]
Childminders and tax
/in Childminders, HMRC, NCMA, Self-assessment, Self-employed, Tax, Tax accountant, Tulse Hill, wear and tear allowance/by TaxfileRegistered childminders are people that work in their own homes to provide care and learning opportunities for other people’s children. Childminders need to declare their income from their self-employment by filling in a self-assessment tax return every year. Many childminders are members of the National Childminding Association (NCMA).The NCMA had an agreement with with HMRC […]
Foster Carers and their tax relief
/in Accountancy, Accountants, Capital gains tax, foster care relief, HMRC, Records, South London, Tax accountant, Tax agents, Taxfile/by TaxfileFostering is looking after someone else’s children in your own home at a time when his or her family is unable to do so. Foster care relief applies to people who get income from providing foster care to children and young people. Anyone receiving this type of income is considered by the tax office to […]
Taxfile: 31st October 2008 deadline
/in Filing deadlines, HM Revenue and Customs, Online returns, penalties, Self-assessment, Self-employed, South London, Tax returns/by TaxfileThe deadline for submitting the details of your income and gains on your Self Assessment Tax Return is still the 31st January. However HMRC has now brought in place a new “paper form” deadline this year to go with the new-style green forms, the final day for submission of these is 31st October. Almost all […]