Latest Self Assessment

Due to the continuing difficulties that Covid continues to present, today HM Revenue and Customs (HMRC) have announced they are waiving late filing and late payment penalties for Self Assessment taxpayers for one month – giving extra time, if needed, to complete your 2020 to 2021 tax return and pay any tax due.   HMRC…

As we look towards the Self Assessment Tax Return deadline date all claimants of the Self-Employment Income Support Scheme (SEISS) grants should be aware of the reporting requirements and tax treatment of these grants.   The grants are subject to income tax and self-employed National Insurance contributions (NIC).   The first three grants must be…

HMRC are now issuing six month late payment penalty notices, as the due date for 2019/20 tax payments was over seven months ago (includes consideration to the additional months extension as a result of the pandemic). Taxpayers facing financial difficulties due to the impact of COVID-19 may have entered into a time to pay arrangement…

There is now less than a calendar month before the tax return filing deadline of 31 January 2022. Do not delay – file it today!   If you are not sure if you need to file a tax return, did you…   Work for yourself between 6 April 2020 and 5 April 2021? Become a…

Today HMRC have announced that they will not be charging Self Assessment tax payers a 5% late payment penalty if they pay their tax, or set up a payment plan by 1 April 2021.   This year, because of the impact of the COVID-19 pandemic, HMRC is giving taxpayers more time to pay or set…

The New Year is approaching and so is the deadline for filing your Self-Assessment Tax return – January 31, 2021.  Our tax experts can ensure everything is completed accurately and submitted on time.   If you need help or advice with your tax return or any other accounting or financial matters, please contact your local…

As part of his Winter Economy Plan on 24 September 2020, the Chancellor announced enhanced time to pay arrangements for Self Assessment (SA) taxpayers who are unable to pay their tax due by 31 January 2021.  The amount due can be paid in monthly instalments over a period of up to 12 months.   These enhanced…

Two self assessment deadlines are approaching:   5th October 2020 For those individuals who have not previously completed a tax return you will need to report to HMRC a liability for 2019/20.   31st October 2020 For those individuals who have previously submitted ‘paper’ self assessment tax returns, the deadline for the 2019/20 return is…

Many taxpayers who are required to file a self-assessment tax return to HM Revenue & Customs should now be preparing for their next half-yearly tax payment which is due by 31st July. The amount payable is the second payment-on-account for the 2019/20 tax year and is automatically calculated as half of the total tax liability…

The marriage allowance allows you to transfer £1,250 of your unused personal allowance to your husband, wife or civil partner in a given tax year.   In order to qualify the one receiving the transfer must not be a higher rate tax payer and the lower earner must have income below their personal tax free…