LATEST POSTS
- Transitioning to Making Tax Digital (MTD) for Income Tax – This April
- Missed the Tax Return Deadline? What Happens Now?
- 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
OPENING HOURS
Monday: 9 am-6 pm
Tuesday: 9 am-6 pm
Wednesday: 9 am-5 pm
Thursday: 9 am-5 pm
Friday: 9 am-3 pm
Saturday: 9 am-1 pm on
April 18th and 25th and
May 9th, 16th and 30th*
Sunday: Closed
* By appointment only
Download our latest brochure:
CONTACT US
LONDON OFFICE:
Taxfile,
25 Thurlow Park Road,
Tulse Hill, London
SE21 8JP.
Tel: +44(0)20 8761 8000
Email: info@taxfile.co.uk
What are the tax credits?
/in CTC, Rates, Tax, Tax accountant, Tax advice, Tax credit, thresholds, WTC/by TaxfileTax credits are payments the Government makes to you if you live in the UK and are in a paid work, responsible for children or both. There are two types of tax credits: Working Tax Credit (WTC) and Child Tax Credits (CTC). The CTC has the following parts: • a family part • a baby […]
What is equitable liability?
/in Appeal Commissioners, Capital gains tax, Equitable liability, HMRC, Inland Revenue, Tax determination, taxpayer/by TaxfileInformation about equitable liability was published in the Revenue’s Tax Bulletin in August 1995. Most people keep their tax affairs up to date and pay their tax in time time. However, where a taxpayer has not submitted his or her return, HM Revenue & Customs can determine the taxpayer’s likely tax liability so that the […]
What is the basic state pension?
/in BR19, National Insurance, NI Class 3, NIC, State Pension/by TaxfileThe basic State Pension is money you may be able to get when you reach State Pension age. The amount you receive depends on the qualifying years you have built through your National Insurance contributions. There are two circumstances to be considered: If you reach State Pension age before 6 April 2010, you normally need […]
Dealing with someone’s tax after they die
/in AEA, Annual exempt amount, Capital gains tax, CGT, executor, Personal allowance, Self-assessment, South London, Tax, Tax accountant, Tax advice, tax office/by TaxfileWhen somebody dies it is important to sort out their tax and National Insurance contributions as soon as possible. The ‘personal representative’ or the executor has to sort out the deceased person’s tax affairs, as well as the rest of the estate.There may be either tax to pay or a rebate from the Tax Office. […]
Taxman’s new power
/in HM Revenue and Customs, HMRC, South London, Tax, Tax accountant, tax office/by TaxfileIs the taxman going too far? This is the question we have to ask ourselves today. The taxman has been given the authority to bug people’s phones and read their emails and letters. In order to reassure taxpayers, the Inland Revenue declared that these new powers will not be used in routine tax investigations. As […]
Capital Allowances
/in Capital allowance, first-year allowance, Lettings, South London, Tax, Tax accountant, Tax advice/by TaxfileAs a business you can claim tax allowances, called capital allowances, on certain purchases or investments. This means you can deduct a proportion of these costs from your taxable profits and reduce your tax bill. Capital allowances are available on plant and machinery, buildings – including converting space above commercial premises to flats for renting […]
Corporation Tax (CT)
/in Corporation tax, CT, Dividends, Shareholder, South London, Tax credit, tax experts, Tax liability/by TaxfileThe fourth largest source of government revenues is Corporation Tax, charged on the profits and chargeable gains of companies. The main rate band is 30%, which is levied on taxable income above £1.5m. The small companies rate of 19% is charged on the first £300,000 of profits where profits are between £50,000 and £1,500,000. Profits […]
Overpayment of tax through PAYE
/in Emergency tax code, HMRC, P45, Pay-as-you-earn, PAYE, South London, Tax, Tax accountant, Tax code/by TaxfilePAYE (Pay As You Earn) is the system used by employers and pension providers to deduct tax from your wages or pension. If you think you’ve paid too much Tax through PAYE you can contact Taxfile‘s tax accountants in South London and they will clarify that for you. HM Revenue & Customs (HMRC) gives you […]
Penalties Reform – The Next Stage
/in Accountants, Advice, Corporation tax, Deadline, HMRC, Income tax, NIC, PAYE, penalties, Tax, Tax accountant, Tax advisers/by TaxfileHello self-employed taxpayers, I hope you enjoyed your holidays. I’m sure it might be quite difficult for those of you who haven’t submitted your tax return yet with the the deadline coming soon. Now, you might wonder what this Next Stage is all about! Well, as part of ”The Review of Powers, Deterrents and Safeguards […]
Tax at Christmas time!
/in Accountants, Advice, Tax, Tax accountant, Tax advisers, Tax enquiry/by TaxfileA very Merry Christmas to one and all from Taxfile‘ s Tax Accountants. Our gift to you all this year is a brand new, free of charge insurance cover. This cover will provide you with protection against any possible Tax enquiry: In the unlikely event of a random investigation by the revenue, Taxfile have insured […]