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Penalties for Late Payment of PAYE

Penalties for Late Payment of PAYE   PAYE and other payroll deductions need to clear Taxman's bank account by 19th of the month, if paid by cheque. Electronic payments can arrive b...
/news/penalties-for-late-payment-of-paye.htm

Changes to NICs for the Self-employed

Changes to NICs for the Self-employed From 2015-16 onwards, the collection of Class 2 contributions will be through the self-assessment system. This means that Class 2 NICs can now be paid...
/news/changes-to-nics-for-the-self-employed.htm

Termination payments consultation – eg. redundancy payment

Termination payments consultation – eg. redundancy payment Following a recent consultation, the Office for Tax Simplification (OTS) is currently consulting on proposed changes to the tax ...
/news/termination-payments-consultation--eg-redundancy-payment.htm

Interest provisions for late payment, repayment and penalties

The detail of how interest is applied to late payments for corporation tax, Stamp Duty and SDLT and to penalties imposed for failure to comply with obligations under PAYE, is to be clarified. ...
/news/interest-provisions-for-late-payment-repayment-and-penalties.htm

Budget update 2020-Tax treatment of the Troubles Permanent Disablement Payment Scheme

Tax treatment of the Troubles Permanent Disablement Payment Scheme An exemption from income tax, inheritance tax and capital gains tax applies for payments made under the Troubles Permanent Dis...
/news/tax-treatment-of-the-troubles-permanent-disablement-payment-scheme.htm

Confusion Over 31 July Second Payment on Account Deferral

Confusion Over 31st July Second Payment on Account Deferral  There has been some confusion on whether or not HMRC has agreed that there can be a blanket 31st July second payment on account...
/news/confusion-over-31-july-second-payment-on-account-deferral-.htm

Coronavirus - Self-Assessment Payment Deferrals

Coronavirus (COVID-19) Update: Self-Assessment Payment Deferrals  To help ease the financial impact of the coronavirus (COVID-19), the Government has announced that self-employed taxpayers...
/news/coronavirus---self-assessment-payment-deferrals.htm

Can I defer my self-assessment payment

Q. I am self-employed and my business has been struggling this year due to the coronavirus. I opted to defer my 31 July 2020 tax payment but I'm worried that I will not have the cash to pay the...
/news/can-i-defer-my-self-assessment-payment.htm

Q. Due to cash flow difficulties I have not yet paid my self-assessment...

Q. Due to cash flow difficulties I have not yet paid my self-assessment payment on account, which was due on 31 July 2018. I realise that I will have to pay interest on the amount outstanding, but ...
/news/q-due-to-cash-flow-difficulties-i-have-not-yet-paid-my-self-assessment.htm

CGT (Capital Gains Tax) Payment within 30 days of the sale - coming for Property owners?

The Association of Taxation Technicians (ATT) is warning that owners of second homes and buy-to-let (BTL) landlords may face a much shorter period in which to pay any capital gains tax (CGT) due on...
/news/cgt-capital-gains-tax--payment-within-30-days-of-the-sale---coming-for-property-owners-.htm

Q. I have not yet paid my self-assessment payment on account, which was due on 31 July...

Q. I have not yet paid my self-assessment payment on account, which was due on 31 July 2017. Will I be charged a penalty for paying late? A. Interest will be charged on the overdue amount. The...
/news/q-i-have-not-yet-paid-my-self-assessment-payment-on-account-which-was-due-on-31-july.htm

Online VAT Filing Compulsory

Online VAT Filing Compulsory   Are you already filing your VAT returns online? If not, then you need to prepare to switch to online filing as this will be compulsory for all VAT regist...
/news/online-vat-filing-compulsory.htm

Late Filing Penalties - Mandatory regular submissions payroll - RTI

Late Filing Penalties - Mandatory regular submissions payroll - RTI From 6 October 2014 the HMRC computer will automatically issue you with a penalty if you submit your full payment submission ...
/news/late-filing-penalties---mandatory-regular-submissions-payroll---rti.htm

Debt factoring and VAT

Debt factoring and VAT Due to the coronavirus, many businesses are experiencing cash flow issues as their customers struggle to make payments in time. A range of banks offer debt factoring as a...
/news/debt-factoring-and-vat.htm

Tackling CIS abuse

Tackling CIS abuse The Government announced at Spring Budget 2020 a consultation to tackle abuse of the Construction Industry Scheme (CIS). A consultation document was published 19 March 2020 s...
/news/tackling-cis-abuse.htm
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