Big tax bills for the self-employed in 2022/23
Date posted: 3rd Sep 2021
Last month we mentioned that draft legislation has been published to change the basis periods for the assessment of self-employed profits to coincide with the tax year. The…
Date posted: 3rd Sep 2021
Last month we mentioned that draft legislation has been published to change the basis periods for the assessment of self-employed profits to coincide with the tax year. The…
Date posted: 13th Aug 2021
HMRC have announced a consultation that could impact upon the amount of tax payable by self employed individuals, including partners of a traditional partnership or a LLP. This…
Date posted: 10th Aug 2021
We understand that HMRC are increasing the number of investigations into taxpayers and businesses. It is anticipated that this trend will increase, given that HMRC staff will be…
Date posted: 9th Aug 2021
No one likes the idea of the taxman taking a chunk of their estate when they die, particularly if it will be necessary to sell a much-loved property…
Date posted: 9th Aug 2021
VAT registration – what does it mean? If you are trading, then you must register your business for VAT purposes if your VAT taxable turnover (see below for…
Date posted: 9th Aug 2021
VAT registered business making taxable supplies above the £85,000 registration threshold have been complying with Making Tax Digital (MTD) since April 2019. All VAT registered businesses, regardless of…
Date posted: 9th Aug 2021
Since 6 April 2021 large and medium-sized organisations have had to determine whether or not a worker supplying their services via their own personal service company would be…
Date posted: 9th Aug 2021
The fifth (and final) SEISS grant will be available for the self-employed to claim towards the end of July. HMRC will contact those traders that may be eligible…
Date posted: 9th Aug 2021
Where a company makes a trading loss of no more than £200,000 in an accounting period it is now possible to claim relief for that loss even though…
Date posted: 9th Aug 2021
Back in 2017, HMRC launched the Trust Registration Service (TRS). Broadly, at that time any existing trust liable to pay tax was required to register with HMRC giving…
