HMRC is increasingly pursuing company directors (and other individuals connected with the management of companies) to pay outstanding tax bills that a... View article Corporate Tax UK losing billions to Small Business tax evasion, NAO report finds 2m Accountancy Age UK losing billions to Smal...
This Talk Money Week (4 – 8 November), taxpayers are being urged to “Do One Thing” and get on the HMRC app to save time and simplify managing their money and tax. More than 1.7m people are already using the HMRC app every month, which enables users to access services such as maki...
Priestly, Chris
a tax expert has warned. You can use these bank details to pay HM Revenue and Customs (HMRC) by Faster Payments, Bacs, or CHAPS. If you are paid through the PAYE system you can update them online. If you do not have an PPE yet and miss this deadline, it is possible to make a ...
Business with arrears may benefit from the government’s Time to Pay Arrangements, which allow the business to repay any outstanding tax, such as PAYE/NI and VAT liabilities, in instalments. A Time to Pay Arrangement normally lasts for a defined period of around 6 or 12 months, although ...
If HMRC asks for an FPS for the previous tax year, you’ll need to: Take note of all payment details for the pay runs and the pay run for that specific tax year. You'll need this information to recreate them later. Make sure you keep note of all the payment details...
Every single year doing self assessment and tax return get more difficult. I'm sure that HMRC make the return process as difficult as possible. I fill out my tax return on paper, as the online system never gave the option to update your phone number and let you into your account. This...
Time of supply (tax point) if it is different from the invoice date Description of the goods or services For each different item listed on the invoice, the following must be shown: Unit price (excluding VAT) Quantity Discounts Total amount payable (excluding VAT) ...
Tax-Free Childcare has saved 62,705 families in the South West on their childcare costs during the 2022 to 2023 tax year, an increase of more than 13,500 from the previous year according to fresh statistics from HM Revenue and Customs (HMRC). With thousa
It's important to record every time money goes in or out of your bank account so that your books balance at the end of each tax year. When you pay VAT to HMRC or receive a refund from them, you need to: Record all VAT payments and refunds. Cate...