MTD Part 2: Software, Sign Up Deadlines and Penalties
In Part 1, we covered who needs to make quarterly submissions to HMRC under Making Tax Digital for Income Tax. In this second part, we look at the practical side of getting ready: the software you need, when to sign up, what information HMRC will ask for what penalties may still apply. How HMRC decides […]
HMRC payroll changes for 2026/27: is your payroll ready?
For many employers, payroll is something that only gets attention when a problem arises. Unfortunately, by the time an issue appears in payslips, HMRC reporting, or employee queries, it can already be costing time, money, and confidence. That is why it is worth reviewing the HMRC payroll changes for 2026/27 before the new tax year […]
Attention! Lost Your CIS Statement? New HMRC Rules Apply
If you’re working as a subcontractor under the Construction Industry Scheme (CIS), it’s essential to stay updated with the latest rules from HMRC. No More Phone Requests for CIS Statements In the past, subcontractors could request duplicate CIS statements by calling HMRC. However, from 1 July 2024, this is no longer possible. HMRC will now […]
CIS – what is it, what for and what to do with it?
[et_pb_section fb_built=”1″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” collapsed=”off”][et_pb_row _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” collapsed=”off”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.27.0″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″] CIS (Construction Industry Scheme) is a tax deducted by the contractor from the subcontractor’s salary and transferred to HMRC. In other words, it is a tax that must be declared during self-assessment tax return and usually […]
Deadline to submit your tax return to HMRC is near
[et_pb_section fb_built=”1″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_row _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”] Deadline for self-assessment tax return (SATR) is 31 January. Anyone who is self-employed, who has turnover in excess of £1000, regardless of making profit or a loss, has to submit SATR to HMRC. Penalties if you don’t submit your return on […]
You should use the services of qualified accountant!
[et_pb_section fb_built=”1″ _builder_version=”4.6.5″ _module_preset=”default”][et_pb_row _builder_version=”4.6.5″ _module_preset=”default”][et_pb_column type=”4_4″ _builder_version=”4.6.5″ _module_preset=”default”][et_pb_text _builder_version=”4.6.6″ _module_preset=”default”] In England most of self-employed people or directors of Ltd companies using advice and services of the accountant. Do you know that one does not have to have relevant qualifications to call themselves accountant or that you, as a client, are responsible for the […]