Taxfile Archives | Page 2 of 6

Saturday Appointments Available — Book Now for Tax Returns & More

December 23, 2025/in 2024, 2025, Accountancy, Accountants, Accounts, Annual Return, Self-assessment, Self-employed, tax rebates, Tax refunds, Tax return, Tax returns, Taxes, Taxfile, Tulse Hill/by Mark

Taxfile is open on Saturdays until the end of January, by appointment, with this coming Saturday 24 January 2026 opening from 9 am to 5 pm. We’re also open on Sunday 25 January, from 10 am to 5 pm, by appointment. Weekend appointments might be useful if you need to see us for your 2024/25 tax return, or any other accountancy work, but can’t do it on a weekday. Weekend slots are limited, so please book in urgently if a weekend appointment suits you — before slots are all taken. Late appointments are also available on Mondays and Tuesdays, when we open until 6pm during January, or choose any other weekday if you can come earlier. Please see the footer of our website for latest opening times.

Book in on 0208 761 8000 or book your appointment online (here). We are happy to do virtual (video/phone) or physical appointments at our Tulse Hill office in Thurlow Park Road — whichever suits you best. Read more

A Brit’s Guide to Value Added Tax Returns

May 23, 2024/in 2023-24, 2024, Book keeping, Bookkeeping, HMRC, Software packages, Taxfile, Value Added Tax, VAT, VAT returns/by Taxfile

VAT — the three little letters that strike fear into the hearts of many a Brit. But fear not, fellow taxpayer! Today, we’re taking a break from the spreadsheets and diving into the delightfully quirky world of UK VAT returns.

VAT, the Shapeshifter

Ever feel like VAT is playing a game of tax-code whack-a-mole? One minute, it’s 20% on your fancy new bicycle helmet. The next, it’s vanished like a magician’s rabbit on a packet of crisps (because, let’s face it, crisps are a VAT mystery all on their own).

The Great Cake Debate

Who knew a simple sponge cake could cause such a stir? Apparently, a sprinkle of chocolate transforms it into a full-VAT situation. Don’t worry, Victoria sponges are safe (for now).

VATman vs. the Smoothie Smugglers

Remember the smoothie wars of ’07? Innocent Drinks tried to claim their creations were “liquefied fruit salad” to avoid VAT. HMRC, ever the defender of fiscal justice, said, “Not so fast, those are clearly beverages!” A tale that proves even the fruitiest tax battles can be entertaining.

Filing Follies

We’ve all been there. You’ve spent hours on your return, feeling smug and self-assured. Then, with a click of the submit button, dread washes over you. Did you forget something? Did you use the wrong form for your pet rock collection (because, yes, VAT rules apply there too)? Deep breaths, everyone. VAT return blunders are a thing.

The Refund Rumble

There’s nothing quite like the thrill of a VAT refund. It’s like finding a forgotten banknote in your winter coat – a financial windfall delivered straight from HMRC! Just remember, with great refunds comes great responsibility (to spend it wisely, of course).

VAT returns might not be a walk in the park, but with a little humour and a helpful accountant, they can be a gentle breeze on a summer’s morning.

At Taxfile we take the ‘tax’-ing aspect out of VAT returns leaving you with the ‘value added’, focusing on what is important for you and your business.

We can run your VAT from start to finish; all you need to do is keep a digital footprint of your financial data.

For Accounting Help, Contact Taxfile

Call us on 0208 761 8000 so we can provide you with all the services we provide from VAT registration, bookkeeping, MTD-compliant software and those VAT calculations and submissions. The only thing we don’t do is pay your VAT bill for you!

020 8761 8000 Book Appointment Contact Us

Taxfile are accountants and tax advisors in Tulse Hill and Dulwich in South London.

The Early Bird Catches the Worm — The Benefits of Acting on Taxes Sooner

May 3, 2024/in 2023-24, Filing deadlines, HMRC, Self-assessment, Self-employed, Sole traders, Tax, Taxfile/by Taxfile

by Ali at Taxfile.

For many self-employed UK taxpayers, the January Self-Assessment deadline looms like a tax-shaped storm cloud. But what if you could banish that pre-deadline panic and transform tax season into a breeze?

Psychology tells us that we are motivated when one set of thought processes outweighs the opposing ones, tipping the balance to make us act. With that in mind, here are 7 key things that may motivate you to act on your taxes sooner rather than later.

1. Knowledge is Power

Filing early gives you a clear picture of your tax bill. This allows you to budget effectively and avoid any nasty surprises come January. Knowing if you owe tax or are due a refund empowers you to make informed financial decisions.

2. Less Stress = Happier

If you owe tax, filing early lets you explore HMRC’s Budget Payment Plan. This lets you spread the cost of your tax bill over monthly or weekly instalments, making it much easier to manage.

3. Faster Refunds = Even Happier

If you’ve overpaid tax, filing early means a quicker turnaround on your refund. That extra cash can be a welcome boost for your finances.

4. Time is Money

January is a notoriously busy time for HMRC and accountants. Filing early ensures you avoid spending hours over the phone to HMRC, or your accountant having to contact HMRC on your behalf and spending over 45 minutes on hold.

5. Spot Errors, Fix them with Ease

Sometimes mistakes happen. Filing early gives you time to review your return and identify any errors. This allows you or your accountant to rectify them before the deadline, avoiding potential penalties.

6. Proof of Income, When You Need It Most

A completed Self-Assessment tax return can be used as proof of income when applying for a mortgage, loan, or certain benefits. Filing early ensures you have this documentation known as an SA302 readily available.

7. More Time for Tax Efficiency (if Needed)

If your tax bill is higher than expected, filing early gives you more time to explore tax-saving opportunities with an accountant (if necessary). In our experience, it also allows us to keep an eye on your turnover and spot early if you might need to be VAT registered, or are steadily moving towards it. It could also allow us to advise whether you’d benefit from setting up a limited company.

File Early — and catch the worm!

By taking charge of your Self-Assessment early, you gain control of your finances and avoid unnecessary stress. So, ditch the last-minute panic and embrace the benefits of early filing.

Contact Taxfile & Take Control

At Taxfile we would like to instil healthy habits in our clients and encourage you to come and see us in the early months after April. By doing so, we can file your tax return early and remove all the stress and worry.

Get ready by making an appointment to see our tax agents today. Call, message, or use our online booking system:

020 8761 8000 Book Appointment Contact Us

Taxfile are tax advisors & accountants in Tulse Hill, and Dulwich, South London.

Basis Reform and Spreading

January 2, 2024/in Basis Period, Self-assessment, Spreading Tax, Tax, Tax accountant, Tax accountants, Tax advice, Tax advisors, Tax calculation, Tax liability, Tax planning, Tax returns, Taxation, Taxfile, Transitional Profits, Tulse Hill/by Taxfile

As of April 6, 2023, the Self-Assessment (SA) for income tax has undergone a significant transformation, known as Basis Period Reform. This change aims to align the taxation of business profits with the standard April-April tax year, rather than any other accounting periods that may have been required by the taxpayer.

While the transition to the new basis period has introduced certain complexities, it also presents opportunities for businesses to manage their tax liabilities more effectively. One such opportunity lies in the spreading of tax arising from transitional profits.

Transitional profits refer to the profits that arise from the transition between the old and new basis periods. These profits can be spread over Read more

TODAY is the deadline for submission of your tax return. Contact Taxfile for help filing & avoid a minimum £100 fine!

31st January was the Self Assessment Tax Return Deadline!

January 29, 2023/in 2021, 2022, Accountancy, Accountants, Deadline, HMRC, Self-assessment, South London, Tax accountants, Tax advice, Tax advisers, Tax returns, Taxfile, Tulse Hill/by Mark

[As at 1 February 2023]: The 31st January was the Self Assessment tax return and tax payment deadline. Miss the deadline and you’ll be in for a £100 HMRC fine right away. Interest will also be charged from 1 February, as usual, if tax is not paid by midnight on 31 January (rules apply). Time is short, so contact Taxfile for help with your tax return as soon as possible please. Book an appointment* with one of our helpful tax advisors and accountancy experts TODAY — we’ll make it easy!

020 8761 8000 Book Appointment Get Started Here

A Personal Message from Guy Bridger at Taxfile

January 29, 2022/in 2020, 2021, 2022, Accountancy, Accountants, Advice, Deadline, Dulwich, Filing deadlines, Guy Bridger, HMRC, Income tax, Late return, London, Online returns, payment plans, payments on account, penalties, Self-assessment, Self-employed, Sole traders, South London, Tax, Tax accountant, Tax accountants, Tax advice, Tax advisers, Tax agents, Tax calculation, Tax returns, Taxfile, Tulse Hill/by Taxfile

Dear Taxfile Client,

We’re aware that many people are struggling right now. So, I wanted to personally touch base with you to confirm that, although the official deadline for submission of 2020/21 self-assessment tax returns and tax payments is Monday (31 January), there is now some extra time this year. This is great news for you if you are concerned about missing the deadlines or having to pay an HMRC penalty for being late. It should really take the pressure off for those who are struggling or worried.

For self-assessment tax returns, you now have until midnight on 28 February to submit. HMRC will only charge you a late filing fee if you file later than this.
For self-assessment tax payments, you now have until 1 April to make your payment (or arrange an HMRC payment plan) before incurring an HMRC late tax payment surcharge. While you will still incur interest for late tax payments from 1 February, HMRC’s interest rate is only 2.75% per annum, so even a month’s interest is unlikely to equate to much for most people.
For tax payments on account (payment in advance for the next tax year), there is no HMRC surcharge/penalty if you’re late but it does attract interest. However, again, that’s only at HMRC’s low rate, so is unlikely to amount to much for most.

We are here to help you, so don’t worry if you owe tax or are running late on your tax return. The Taxfile team can help you sort things out, particularly as we have a little longer than usual. We can work something out during February if you are worried about HMRC surcharges, interest and deadlines. Please get in touch if so.

020 8761 8000 Book Appointment Get Started Here

Lastly, don’t forget that we are open on Saturdays during January and February (by appointment) and open later (until 6pm) on Mondays and Tuesdays. Read more

HMRC Waives Late Filing & Payment Penalty for 31st January Deadline

January 10, 2022/in 2020, 2021, 2022, Accountants, Coronavirus, COVID-19, Pandemic, Self-assessment, Self-employed, Sole traders, Tax, Tax accountant, Tax accountants, Tax advice, Tax advisers, Tax affairs, Tax agents, Tax bill, Tax calculation, Tax return, Tax returns, Taxes, Taxfile/by Taxfile

HMRC has taken the decision to not issue a late filing penalty for anyone who does not submit their self-assessment tax return before midnight on 31st January 2022. It is important to point out that the deadline for filing your 2020-21 tax return remains 31/01/22 but the waiving of the penalty allows anyone who is unable to file their self-assessment tax return by the 31/01/22 deadline avoid a £100 late filing penalty as long as they submit their tax return sometime before midnight 28th February 2022.

Furthermore, anyone that is unable to pay their self-assessment tax liability before 31st January 2022 will not receive a late payment penalty if they pay their tax in full, or call HMRC to arrange a payment plan before 1st April 2022. It is important to note that interest will be added on taxes owed from 1st February 2022.

For a second year in a row, due to COVID, an extra Read more

Christmas & New Year Opening Times at Taxfile

December 22, 2021/in 2021, 2022, Accountancy, Accountants, Accounts, Annual Return, Christmas, Limited companies, London, Opening Times, Self-assessment, Self-employed, Tax, Tax accountants, tax rebates, Tax refunds, Tax returns, Taxfile, Tulse Hill/by Mark

Season’s greetings to all our clients and readers and sincere thanks to all of you who have kept us busy with work during 2021 — we really appreciate it.

Here’s a quick reminder of our opening times during the Christmas period and into the New Year. This is for our Tulse Hill office (Thurlow Park Road) and our Dulwich office (Turney Road) except where otherwise indicated.

Friday 24 December 2021 (Christmas Eve): we’re open from 9am until 3pm (Tulse Hill office only).
Saturday 25 December 2021 (Christmas Day): closed.
Sunday 26 December 2021 (Boxing Day): closed.
Monday 27 December 2021 (a public holiday): closed.
Tuesday 28 December 2021 (a public holiday): closed.
Wednesday 29 December 2021: open 9am until 5pm.
Thursday 30 December 2021: open 9am until 5pm.
Friday 31 December 2021: open 9am until 3pm (Tulse Hill office only).
Saturday 1 January 2022 (New Year’s Day): closed.
Sunday 2 January 2022: closed.
Monday 3 January 2022 (a public holiday): closed.
Tuesday 4 January 2022: we re-open from 9am until 6pm.
Wednesday 5 January 2022: open as usual, 9am until 5pm.
Thursday 6 January 2022: open as usual, 9am until 5pm.
Friday 7 January 2022: open as usual, 9am until 3pm (Tulse Hill office only).
Saturday 8 January 2022: open 9am until 1pm by appointment (Tulse Hill office only).
Sunday 9 January 2022: closed.
From week commencing Monday 10 January: open as usual (see footer).

Have You Contacted Taxfile About Your Tax Return Yet?

If you need a self-assessment tax return or any other kind of return and haven’t yet arranged it with us, please arrange an appointment urgently. January becomes frantically busy in the accounting world, so please make the most of the remaining December appointments while they’re still available — thank you. Appointments are by telephone, Zoom, Microsoft Teams, in person (under safety protocols) … Read more

Saturday Appointments in December – Book Now for Tax Returns Etc.

November 22, 2021/in 2020, 2021, Accountancy, Accountants, Accounts, Annual Return, Self-assessment, Self-employed, tax rebates, Tax refunds, Tax return, Tax returns, Taxes, Taxfile, Tulse Hill/by Mark

[Update for January 2022 available here]. Read more

Taxfile’s Autumn Newsletter 2021

September 30, 2021/in 2021, Accountancy, Accountants, Accounts, Dulwich, Newsletter, Tax, Tax accountant, Tax accountants, Tax advice, Tax advisers, Tax agents, tax experts, Taxes, Taxfile, Tulse Hill/by Mark

Welcome to Taxfile’s Autumn Newsletter for 2021. One of our biggest yet, it includes useful tax- and accountancy-related news that you need to be aware of, ways to save time or money – and much more. Take a look!

QR Codes

You’ll find QR codes throughout the newsletter. These are a quick and easy way to access further information about the topic. Assuming you are viewing the newsletter on a desktop device or a printed* version, simply point your mobile camera phone at a QR code and then open the link that pops up. Your mobile’s browser will then take you straight to the information page. Alternatively, we supply simple link URLs to simply tap in.

Download As an Acrobat PDF & Print Out

* If you’re viewing on a small screen, it may be easier to read if you download the newsletter as an Acrobat PDF so you can print it out at full size (A4). Read more