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Higher Penalties for Late Returns

Higher Penalties for Late Returns   This month, we have a warning. Please spread the word as HMRC mean business! Your personal self-assessment tax return for the tax year to 5 Apr...

Abolition of the Tax return - HMRC go live with Verify identity authentication

Abolition of the Tax return - HMRC go live with Verify identity authentication Verify, the online service taxpayers will need to use to prove their identity before accessing HMRC's d...

Can I amend my tax return after I've submitted it

Q. I usually make regular pension contributions of approximately £10,000 per year net of relief. However, in 2017/18 I made a large one-off contribution following a capital gain. I've jus...

Personal Self Assessment

Personal Self Assessment   It is a common misconception that individuals only have to submit a self assessment tax return if they receive one from HM Revenue and Customs. All individ...

Tax Campaigns Update

Tax Campaigns Update The Taxman is determined to target tax evaders, so has been running several campaigns to target particular business sectors, such as doctors, electricians and e-traders. ...

Child benefit claw-back

Child benefit claw-back If you or your spouse/partner claim child benefit, and at least one of you has adjusted net income of £50,000 or more for the year, the highest earner must declare...

Late Filing Penalties

Late Filing Penalties   Important Announcement -These penalties will still be payable even if you do not owe any tax Your online tax return must reach HMRC by midnight on 31 Janua...

Capital Allowances for Holiday Lets

Capital Allowances for Holiday Lets Do you own a property that qualifies as a furnished holiday let (FHL)? To qualify the property has to be commercially let for short periods for at least 70 d...

HMRC to use Automatic Search Programmes

HMRC to use Automatic Search Programmes!   The Taxman has announced he is going to start targeting tax evasion by online traders, private tutors, personal trainers and life coaches. ...

Repayment Claims for Tax on Interest

Repayment Claims for Tax on Interest   You may be able to claim a tax repayment from the Tax Office if your bank has deducted 20% tax from interest paid. If your tax-free allowance (up...

4th SEISS Grant

4th SEISS Grant The portal for making a claim for the fourth coronavirus SEISS grant opened at the end of April. Eligible businesses should have been contacted by HMRC to inform them of their p...


Frequently Asked Questions Q. I have recently started a new job and, for the first time in my career, I have been provided with a company car. I have to pay for fuel for private use but my empl...

Gifting Assets or Shares

Gifting Assets or Shares If you plan to gift assets or shares to your relatives, there are several taxes you need to consider: Capital Gains Tax You won't make an actual profit or...

Moving into partnership

Moving into partnership A partnership may be a simple trading vehicle enabling two or more people to own and run a business, but there are a few practicalities worth considering before making t...

Reducing the Child Benefit Tax Charge

Reducing the Child Benefit Tax Charge You may have received a letter from HMRC about the high income child benefit charge (HICBC), which is designed to claw-back child benefit from high earners...
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