Guide on How & When to File Your Tax Return
Tax season can be overwhelming, and understanding whether you need to file a tax return is essential. Filing accurately and on time is crucial to avoid penalties and ensure compliance with tax regulations. Many people, especially self-employed individuals and business owners, must submit a tax return annually. If you’re uncertain about the process or if … read more Guide on How & When to File Your Tax Return
Avoiding VAT on Van Purchases: A Small Business Guide
Avoiding VAT on Van Purchases When purchasing a van for business, VAT (Value Added Tax) is often a significant cost consideration, especially for small businesses aiming to manage expenses. With the current VAT rate in the UK at 20%, this added expense can quickly impact cash flow. However, there are legal ways to minimize or … read more Avoiding VAT on Van Purchases: A Small Business Guide
Does CIS Tax Return Work? A Comprehensive Guide for Contractors and Subcontractors
CIS Tax Return Work The Construction Industry Scheme (CIS) is a critical tax framework in the UK for contractors and subcontractors. Its primary goal is to streamline tax deductions in the construction industry, ensuring that the right amount of tax is paid upfront. However, many people ask, does CIS tax return work? How does it … read more Does CIS Tax Return Work? A Comprehensive Guide for Contractors and Subcontractors
BBC News
- Inflation progress stalls in US in October November 13, 2024Prices in the US rose 2.6% over the 12 months to October, driven by more expensive food and groceries.
- The Guardian stops posting on Elon Musk's 'toxic' X November 13, 2024It has accused X of promoting "disturbing content", and says Mr Musk is using it to "shape political discourse."
- Post Office could close 115 branches with jobs at risk November 13, 2024Hundreds of head office workers are facing cuts and loss-making branches are under threat of closure.
- JD Sports boss warns prices will rise due to Budget November 13, 2024Chancellor Rachel Reeves has said firms will have to absorb higher taxes through their profits.
- Train firms face review over fare dodging penalties November 13, 2024The way firms deal with fare evasion will be examined amid concern about how passengers are treated.
- VW launches $5.8bn tie-up with Tesla rival Rivian November 13, 2024The firms will share EV technology as they face slowing demand and competition from Chinese rivals.
- ‘Adults buying kids' toys to escape global turmoil’ November 13, 2024Retailers are increasingly targeting the "kidult" market as family finances are squeezed.
- Why Tesla, crypto and prisons are Trump trade winners November 12, 2024As the dust settles on a post-election stock market rally, some firms have already gained.
- DNA-testing site 23andMe to lay off 40% of its workers November 12, 2024The once-popular general DNA-testing firm holds a trove of sensitive genetic data from its customers.
- Legal challenge to Rosebank oil field begins November 12, 2024Campaigners want to stop the Rosebank oil and Jackdaw gas fields, but oil companies say they are vital.
HMRC working with tax agents
- This blog is now archived September 6, 2022Please note that this blog is no longer being updated.Geoff Greensmith
- Mandating the use of P87 forms - Frequently asked questions for agents May 11, 2022From 6 May new secondary legislation came into force allowing HMRC to specify the format of P87 applications. HMRC has updated the form they want customers to use on GOV.UK and from 7 May 2022 all P87 applications must be made on this form.Geoff Greensmith
- End of bulk appeals for late filing penalties May 5, 2022The temporary reintroduction of bulk agent appeals for 2020 to 2021 Income Tax Self Assessment (ITSA) late filing penalties, will come to an end on 6 May 2022 as planned.Geoff Greensmith
- Agent Update 95 has been published April 21, 2022Agent Update 95 is available now and contains the latest articles, updates, help and support for the entire agent community.Geoff Greensmith
- How is HMRC upholding the Standard for agents? April 5, 2022HMRC has published an in-depth review on upholding standards for agents. The review sets out our approach and the statutory powers available to us when dealing with breaches of the Standard. It brings together contributions and examples of work from across HMRC and it’s the first time this information has been published in one place.Geoff Greensmith
- Authorisation to discuss Self Employment Income Support Scheme (SEISS) grants on behalf of your clients March 29, 2022We may not be able to talk to you about your clients’ SEISS grants unless we receive additional consent from them. This is because our existing process – the 64-8 agent authorisation – was not designed to cover the support provided in response to coronavirus, such as SEISS grants, so the usual taxpayer confidentiality rules apply. We require this additional authorisation […]Geoff Greensmith
- New 64-8 agent authorisation form March 24, 2022From 31 March 2022, new clients will need to use a new form 64-8 to give authorisation for you to deal directly with us on their behalf. Existing clients do not need to re-authorise their current relationship.Geoff Greensmith
- Spring Statement 2022 March 23, 2022The Chancellor made his annual Spring Statement speech today where he set out the Government’s tax plan to support the UK economy, businesses and families in both the short and the medium term.Geoff Greensmith
- Agent Update 94 has been published March 17, 2022Agent Update 94 is available now and contains the latest articles, updates, help and support for the entire agent community.Geoff Greensmith
- Bulk appeal for Late Filing Penalties – Coronavirus March 2, 2022Due to the impact of coronavirus on individuals and businesses around the country, HMRC has not issued a Late Filing Penalty for anyone who has been unable to file their 2020-21 self-assessment return by 31 January 2022 providing they did so by 28 February 2022.Geoff Greensmith
HM Revenue & Customs – Activity on GOV.UK
- Guidance: Stamp Duty Land Tax: technical specifications November 13, 2024Technical specifications for Stamp Tax Online software developers.HM Government
- Guidance: HMRC email updates, videos and webinars for tax agents and advisers November 13, 2024Learn more about the support available to tax agents and advisers which will help you and your clients.HM Government
- Policy paper: Changes to the Class 1 National Insurance Contributions Secondary Threshold, the Secondary Class 1 National Insurance contributions rate, and the Employment Allowance, all from 6 April 2025 November 13, 2024This tax information and impact note is about changes to Secondary Class 1 National Insurance contributions and changes to the Employment Allowance.HM Government
- Guidance: Submit a pleasure craft report November 13, 2024Before you sail to or from the UK, submit your voyage plan with details of your vessel, people and goods on board. Find out how to change or cancel your report.HM Government
- International treaty: Romania: tax treaties November 13, 2024Tax treaties and related documents between the UK and Romania.HM Government
- Guidance: Help to Save: service availability and issues November 13, 2024Check the availability and any issues affecting the Help to Save service.HM Government
- Guidance: Designated export place (DEP) codes for Data Element 5/23 of the Customs Declaration Service November 13, 2024Find a list of codes which can be used in Data Element 5/23 to identify the location where the goods may be declared for export at a designated export place (DEP) (Appendix 16K).HM Government
- Guidance: Data Element 2/3: Documents and Other Reference Codes (Union) of the Customs Declaration Service November 13, 2024Find the relevant document codes, document status codes and details to be declared such as licences and certificates (Appendix 5A).HM Government
- Capital allowances when you sell an asset November 13, 2024Selling or giving away an asset you claimed capital allowances on - balancing charges, balancing allowances, closing your business, how to claim and pay tax on your tax returnHM Government
- Guidance: Goods Vehicle Movement Service — service availability and issues November 13, 2024Check the availability of the Goods Vehicle Movement Service (GVMS) and get information on any issues.HM Government