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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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Bounce Back Loan Scheme Deadline Extended
/in 2020, 2021, BBLS, Bounce Back Loan Scheme, Coronavirus, COVID-19, Pandemic/by Taxfile[UPDATED FEBRUARY 2021] The Bounce Back Loan Scheme (BBLS) was an initiative struck up between the Government and banks to enable small businesses to access finances more quickly through the pandemic. It allowed businesses to have access to 25% of their 2018/19 turnover, with a minimum loan of £2,000 and a maximum amount of £50,000. […]
Coronavirus Job Retention Scheme Extended
/in 2020, 2021, Pay-as-you-earn, PAYE, Payroll, Payroll bureau, Taxfile/by Taxfile[UPDATED FEBRUARY 2021] The Coronavirus Job Retention Scheme is being extended until 30 April 2021. As a result of the ongoing pandemic, the Government’s response has been to extend the furlough scheme at the original 80% level. For now we know this will extend through to the end of April 2021. From 1st November 2020 […]
SEISS Grant – Round 3
/in 2020, 2021, coronavirus, Coronavirus, COVID-19, COVID-19, HMRC, Pandemic, Pandemic, SEISS, Self-assessment, Self-employed/by TaxfileInstead of constantly updating our original SEISS grant post we decided to create a new one as over the last month the government has chopped and changed the requirements, the dates, & the amount available due to the everchanging situation around the COVID-19 pandemic. The points that need to be highlighted for the third extension […]
As a Director do I need to file a Self Assessment Income Tax Return?
/in 2020, 2021, Income tax, Investments, Landlords, Lettings, Limited companies, Limited company, Self-assessment, Tax credits, Taxfile, Uncategorized, Undeclared income/by TaxfileHMRC now states that where all of a director’s income is taxed at source and there is no other sources of income, then there is no need for them to register for self-assessment and to file a return. If as a director you have been requested to submit a self assessment tax return, but have […]
Act NOW & get 5% Off 2019-20 Self-Assessment Tax Return Fees
/in 2019, 2020, Accountancy, Accountants, Battersea, Dulwich, Self-assessment, Tax, Tax accountant, Tax accountants, Tax advice, Tax advisers, Tax return, Tax returns, Tulse Hill/by MarkHave you contacted us about your 2019-20 Self Assessment tax return yet?
If not, please get in touch early this month (November). You’ll save 5% or more¹ by acting right away. You’ll also avoid the coming bottleneck if you act now. So, please …
How To Help Your Accountant Save You Money
/in 2020, Accountants, Bookkeeping, Corporation tax, Income & Expenditure, Limited companies, Limited company, P11D, Software packages, Tax, Tax accountant, Tax accountants, Tax calculation, Taxfile, VAT, Xero/by TaxfileThere are many benefits of helping your accountant by providing complete and organised records from the outset. Here are some of them: If you get your records to your accountant on time, you will give them enough time to work on your case without unnecessary pressure and file everything on time (don’t forget you are […]
Need a Limited Company? Questions you may be asking yourself
/in 2020, Accountancy, Accountants, Accounts, Book keeping, Bookkeeping, Capital assets, Corporation tax, Dividends, HMRC, Income & Expenditure, Limited companies, Limited company, P11D, PAYE, Payroll, Tax, Tax calculation, Value Added Tax, VAT/by Taxfile“What are the main differences between being self-employed and running a limited company?” “What are the advantages and disadvantages of having a private limited company?” The major difference between running a private limited company and being self-employed are the administrative requirements you are required to do by law & although the volume is more, the […]
Self-Employment Income Support Scheme (SEISS) Deadlines and Extensions
/in 2020, 2021, Coronavirus, COVID-19, HM Revenue and Customs, Pandemic, Partnership, SEISS, Self-employed, Sole traders, Uncategorized/by TaxfileThe deadline for the 2nd SEISS grant looms, please apply before it is too late. The second SEISS grant is worth 70% of your average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and capped at £6,570 in total. If you’re eligible and your business has been adversely […]
Small Trader? Make the Most of These 2 Allowances!
/in Accountancy, Class 2 NICs, expenses, Income tax, Landlords, Lettings income, property, Self-assessment, Small traders, Tax, Tax advice, Tax-free allowance, Taxes, Trading Income Allowance, Tulse Hill/by MarkSmall traders with very modest incomes are currently eligible for a couple of very useful allowances. Both of these could save them money — and some paperwork …
Don’t Miss THIS on your Tax Return! (Checklist)
/in 2020, Accountancy, Accountants, Self-assessment, South London, Tax, Tax return, Tax returns/by MarkThe standard Self-Assessment Tax Return includes all the usual areas that you’d expect to have to confirm to HMRC. These include the obvious things like personal details, information about income for the period in question, any assets, dividends, interest received, pensions and so on.
However, there are a number of additional areas that you need to check and confirm before the return is submitted and filed with HMRC. It’s not an exhaustive list, but things people sometimes miss and that you need to check you have allowed for (if applicable) include …