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Nov 10, 2019 | TaxCompleting Your Online Self Assessment Tax Return
Summary. The annual deadline for submitting your online self-assessment tax return and paying any tax owed is 31st January. It’s essential for those with various income sources, including self-employment, property rental, or high savings. Online submission offers automatic bill calculation, instant confirmation, personalised forms, and error alerts. Missing the deadline incurs significant fines. Thomas Nock […]
Sep 25, 2019 | TaxHMO Tax | What Do I Qualify For As A HMO Landlord?
Summary. Landlords of HMOs generally can’t claim capital allowances for communal areas, as HMRC considers these as part of the dwelling. Tax deductions are viable for repairs and domestic item replacements. Incorrect claims risk penalties. Expert HMO tax advice is recommended. Our previous article on capital allowances for landlords raised a few questions regarding […]
Sep 10, 2019 | TaxHow Capital Gains Tax On Property Will Change From April 2020
Summary. Starting from April 2020, taxpayers must pay capital gains tax (CGT) on residential property sales within 30 days of completion, marking a significant departure from the current self-assessment system. This rule applies to both UK and overseas properties, with penalties for non-compliance. Thomas Nock Martin offers expert advice on navigating these changes. In April […]
Jul 18, 2019 | VATEU VAT Refund | Everything You Need To Know
Summary. Learn how the EU VAT refund simplifies reclaiming VAT on purchases made abroad. Since January 1, 2010, an EU directive streamlines refunds for VAT-registered businesses via tax authority websites. This applies to goods and services, reducing VAT costs for non-resident businesses. Ensure proper procedures to avoid HMRC rejections, submit by September 30th. You’re […]
Jun 25, 2019 | TaxSelf-Assessment Tax Returns | When Should You File Yours?
Summary. HMRC publishes an annual list identifying the right time for filing self-assessment tax returns online, including exclusions due to specific job circumstances. Checking this list ensures accurate tax filing, as ignorance or disregard may result in incorrect tax payments. Every year HMRC publishes a list of when the right time is for you […]
May 08, 2019 | TaxHow does the salary sacrifice scheme work with the P11D form?
The P11D deadline for the salary sacrifice scheme is almost upon us for 2018/19. However, it’s likely that this is the first time as an employer that you will have to include benefits provided to your employees through a salary sacrifice scheme. So if you’re asking yourself ‘how does the salary sacrifice scheme work?’ read […]
