With more than 12 million taxpayers due to complete self-assessment for the 2023/24 tax year, HMRC is urging them to take advantage of their online resources for help. While of course, some questions may be quite complex,needing the expertise of an accountant, for those who do not ...
Sole traders who need to comply with the new requirement to report their profits at the end of the tax year can access aGOV.UK interactive toolto help them navigate the changes. The tool will help sole traders complete their 2023-24 Self Assessment tax return correctly based on the details ...
With less than a month to go, the countdown is on for 5.4 million customers who still need to complete and pay their Self Assessment and avoid penalties, HM Revenue and Customs (HMRC) warns. Thousands of taxpayers have already done so by completing their tax returns before the fizz was ...
No £100 fine for late self-assessment if it is made before February 28th- but taxes due will still be hit with interest.
Self-employed? Sign up and take the stress out of HMRC self assessment with QuickBooks accounting software. You'll be confident your taxes are done right.
Online returns: Due by 31st January after the tax year ends (e.g., for the tax year ending 5th April 2024, the deadline is 31st January 2025). How to Report Your Crypto Taxes to HMRC Report your crypto gains or losses to HMRC through a Self Assessment tax return: Register: Sign up...
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The government’s minister for efficiency and transformation, Lord Theodore Agnew, said that “HMRC expects a similarly competitive market for MTD for Income Tax Self Assessment” as that which has developed for VAT payments. “HMRC works closely with the ...
When the introduction of Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) was first announced way back in 2015, the response… READ MORE > Split year treatment: could it reduce your tax bill? 04 Dec 2024 You may dream of going to work overseas for a year or more, ...
The report outlined the department's struggle to cope with the 1.6 million self-assessment forms filed online in 2004-05. According to Public Accounts Committee chairman Edward Leigh, HMRC is responsible for errors in processing returns in 5% of cases. He further added that some 30,000 ...